700 Sylvan Ave
Englewood Cliffs, NJ 07632
Unilever North American Corporate Headquarter · Office Property For Sale

SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest in Unilever North American Headquarters, an absolute NNN leased, class A corporate campus zero cash flow investment in Englewood Cliffs, NJ, with an operating history of over 50 years. The tenant, Conopco, Inc., is the principal operating subsidiary of Unilever United States, Inc. There are currently more than 15 years remaining in the initial lease term with 4 (5-year) options to extend at Fair Market Rent. The lease is corporate guaranteed by Unilever United States, Inc. (S&P: A+), a wholly owned subsidiary of the Unilever Group, consisting of Unilever PLC (United Kingdom; NYSE: UL) and Unilever NV (Netherlands; NYSE: UN). Unilever’s most recently reported annual revenue were €51B ($57.5B) in 2018. Unilever’s North American Headquarters is located in the New Jersey Gold Coast approximately 3 miles north of the George Washington Bridge, averaging 289,000 VPD. Coined the Trillion Dollar Mile, the site is positioned at an irreplaceable location within a strip of multi-national company headquarters along the Hudson River, including CNBC (World HQ), Unilever (North American HQ), LG Electronics (North American HQ), Ferrari (North American HQ), and Whole Foods (Regional HQ). Crossing the bridge leads right into the heart of New York City with close proximity to Central Park, Manhattan, and Downtown. The 5-mile trade area is supported by more than 1.5M residents and 390,000 employees. Residents within 1-mile boast an impressive average household income of more than $257,000. This offering features non-recourse, zero cash flow financing with a paydown/readvance feature allowing for up to $129 million in trade proceeds, ideal for 1031/1033 exchange buyers or non-exchange buyers looking for passive losses to offset income from other real estate investments.