Hoboken Business Center Maintains 90% Occupancy Despite Off-Beat City Location and Recent Recession

JDA President Greg Dell'Aquila Uses Creativity, Personal Relationships and Hands-on Management to Attract and Retain Tenants. End Quote

Bergen-Passaic, NJ (1888PressRelease) April 20, 2011 - Maintaining close to 100% occupancy for a major office building is a tough achievement in any market. In recent years, as the economy faltered, it has become even tougher.

However, JDA Group (JDA), developer, owner and manager of the Hoboken Business Center (HBC), has done just that. Located in an off-beat area of the city, at 50 Harrison Street, the 80,000-square-foot office building has maintained between 90 to 100% occupancy since JDA completed its redevelopment in late 2004. As a result, it has become a symbol of success and a tribute to the vision and creativity of its developer.

"HBC offers truly boutique office space ranging from 90 square feet to 7,500 square feet," said Greg Dell'Aquila, president of JDA. "We knew Hoboken had a clear need for this unique type of space when we built it. Over the years, we have brought more than 100 new businesses to HBC, and we couldn't be more pleased with the positive effect on this neighborhood and the city as a whole."

Based at HBC, JDA is a privately-held commercial and residential development company serving the NY/NJ metropolitan area. With a growing portfolio, JDA is known for its ability to see the redevelopment potential of properties. The company provides a results-oriented, hands-on approach to all phases of its projects including conception, development, construction, financing, marketing, leasing, and property management.

Joseph Dell'Aquila founded JDA in the early 1980s and soon began acquiring property in the most valued areas in New York and New Jersey including Hoboken, Alpine and Englewood Cliffs. Now under the leadership of his son, Greg, the family-oriented service of the JDA Group is its defining characteristic.

Today, HBC has approximately 80 small- to mid-size companies as tenants as well as solo practitioners such as architects, lawyers and engineers. Businesses based there include Hoboken Chiropractic + Wellness Inc., Adventures in Learning day care center, and the law firm of LoPiano Kenny & Stinson.

"JDA has far exceeded any expectations of customer service that I had for an owner and property manager," said Wanda Alicea, director of Adventures in Learning day care center. "In particular, JDA served as a powerful voice for us with the City when we raised concerns about traffic issues with many parents and their young children crossing the streets near HBC. Joe and Greg are always very pro-active with the tenants, looking out for them and suggesting other options. It's wonderful to have that type of support from JDA."

JDA extends that family-oriented style of business to Hoboken's community-at-large. Two years ago, Greg Dell'Aquila created "Career Academy" in which local high school students have the opportunity to spend an hour with three different business professionals with offices at HBC.

JDA Portfolio Includes Luxury Apartment Complex in Hoboken

JDA is also the owner, developer and manager of The Lexington, a luxury apartment complex in Hoboken at 632 Grand and 619 Adams Streets. Both properties were formerly utilized as surface-level parking lots before JDA began developing the properties.

For this project, Greg Dell'Aquila himself took on the role of general contractor. He envisioned only the most upscale quality finishes, rivaling those of any well-appointed condo complex in Hoboken. These spacious apartments boast gourmet kitchens with top-of-the-line appliances and granite countertops, upscale bathrooms, and hardwood floors throughout. Lexington East features 10 one-bedroom apartments and Lexington West has 40 two-bedroom, two-bath apartments. Commanding some of the highest rents in the city, The Lexington also maintains a 100% occupancy rate.

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