Jet.com doubles size of Hoboken, NJ Headquarters
Interesting – new online retailer Jet.com announced today that they’re expanding their Hoboken, NJ headquarters. The office will double in size from 40,000 sq. ft. to 80,000 sq. ft.
What perplexes me is that they’re not expanding due to “Great Success” as Borat would say. The company is not profitable. They’re running on venture capital and other investments.
And in the press release below, they just talk about rapid growth – and all sorts of other eco-progressive liberal catch-phrases.
Us? We stopped using Jet – and continue to use Amazon who is still cheaper. Remember how Jet started out as a “shopping club” but now is a completely different company? I just wonder how long this “startup” identity crisis with big companies will last. Back in the day you “grew” slowly over time. Nowadays everything “blows up” so fast (look at Uber), not sure it all makes sense.
We’ll still give Jet.com a chance – but they haven’t scored many points with us as of late.
Jet.com Doubles Headquarters to 80,000 SF at SJP Properties’
Waterfront Corporate Center III
E-Commerce Startup Expands Quickly at Class A Hoboken Business Complex
HOBOKEN, N.J. (March 15, 2016) – SJP Properties today announced that e-commerce venture Jet.com (Jet) has agreed to expand its headquarters at Waterfront Corporate Center III in Hoboken. Jet will be commencing its build out that will double the size of its corporate offices by an additional 40,000 square feet, for a total of 80,000 square feet. The third and final building within SJP’s best-in-class, mixed-use business center, Waterfront Corporate Center III was developed by SJP in partnership with USAA Real Estate Company, and recently achieved LEED Gold certification from the U.S. Green Building Council.
Jet is the latest e-commerce venture led by Marc Lore, former CEO and co-founder of Diapers.com and parent company Quidsi. Jet launched in July 2015, bringing a significant number of jobs to Hoboken.
Scott Peck, SIOR and Brian Wilson of Resource Realty represented Jet in its recent expansion at Waterfront Corporate Center III. SJP Properties was represented in-house by Senior Vice President Peter Bronsnick.
“We’re excited to continue working with SJP Properties to expand Jet’s space on the Hoboken waterfront,” said Marc Lore, Jet’s founder and CEO. “We have an innovative, tech-focused office that is helping lead the Hoboken tech community. SJP has also been supportive of our commitment to being cost efficient and smart with how we expand our footprint in phases that reflect our growth as a company.”
“Jet’s rapid growth at Waterfront Corporate Center III follows NICE Systems’ decision to relocate here, further illustrating Hoboken’s position as a top destination for the regional technology community, which benefits significantly from access to the area’s highly skilled labor pool,” said Steven J. Pozycki, CEO of SJP Properties. “We have created an environment here in Hoboken where businesses can flourish in world-class office facilities without sacrificing access to transportation, amenities and commerce.”
Situated within the heart of Hoboken’s master-planned, pedestrian-friendly waterfront, Waterfront Corporate Center is the city’s most successful mixed-use development. The three-building complex comprises 1.5 million square feet of Class A commercial space adjacent to the W Hoboken Hotel and just steps from Hoboken Terminal’s NJ TRANSIT, PATH, NY Waterway Ferry and Light Rail connections.
In addition to Jet and NICE Systems, a prestigious roster of leading-edge companies calls Waterfront Corporate Center home, including Marsh & McLennan, Thomson Reuters, RMS and Octapharma. Pearson Education occupies 200,000 square feet to serve as the lead tenant of Waterfront Corporate Center III, which also houses collaborative workspace provider Regus.
Additionally, Del Frisco’s Restaurant Group recently opened its popular Del Frisco’s Grille at Waterfront Corporate Center III.
The complex houses an on-site, state-of-the-art fitness center, Crunch Fitness, as well as the Wicked Wolf restaurant, Jos A. Bank, FedEx and Chase Bank. Last year, childcare learning center Kiddie Academy signed a lease to occupy a portion of the complex’s retail space. Additionally, Waterfront Corporate Center benefits from proximity to downtown Hoboken’s renowned shopping, dining and entertainment options, as well as two piers that have been converted into beautiful, water-surrounded recreational parks and a tree-lined boulevard, all of which contribute to Hoboken’s 24/7 lifestyle and walkable amenities.
SJP is currently marketing Waterfront Corporate Center III’s available office space in the tower floors of the building.
Reflective of Waterfront Corporate Center III’s position as one of the state’s preeminent business addresses, the building features highly efficient floor plates and floor-to-ceiling glass windows that permit natural light to penetrate deep into the floors and offer unobstructed New York City and Hudson River views. SJP has incorporated energy-efficiency and air quality control features throughout to provide a healthier and more sustainable work environment for the building’s tenants. Additionally, the building features an underground parking garage, providing tenants with covered parking access.
Calling Hoboken NJ Home: Jet.com shopping club sets up shop
Jet is a “wholesale” shopping club (with annual fee), which is claiming it will revolutionize how people buy things. And with over $80 million already invested in this “startup,” the buzz is certainly growing. And they’re not even open for business yet. (But you can get a free six month membership here if you’re interested.)
Jet’s founder is Marc Lore – who has done well for himself in the “e-commerce”
bubble arena. He owned Diapers.com, Soap.com and Wag.com – which were all sold to Amazon for half a billion dollars back in 2010.
But now Jet.com is looking to take on Amazon directly. But will that work?
What the heck is Jet – and why would I use it?
Jet is being somewhat vague about how they will make “buying something” that much different than you’re already used to:
“We will make use of the latest advancements in technology to create a new shopping experience that will empower customers like never before. Jet will bring unprecedented transparency and efficiencies to the overall e-commerce market, and as a result, will transform the customer experience in a way that, until now, has not been possible.”
If you cut through the buzz-words and big promises – Jet feels they will be the cheapest place to buy anything online.
How will Jet be cheaper than anyone else?
Well, for one – Jet is going to be sort of like the online version of Costco or BJ’s. An annual membership model – but super cheap prices. And they claim that you’ll save a whopping $150 per year if you do most of your shopping on Jet.
Jet said they can pass even more savings on to customers in different ways:
- Quantity discounts. The more you buy, the less you’ll pay for each item.
- Opt-in marketing discounts. If you don’t mind spam from time to time, you can save some more by giving your email address to vendors.
- Final sale. If you know for sure you won’t return something – get a few more pennies off the price.
- Economy shipping. If you spend over $35 and don’t mind waiting a week, you’ll get free shipping.
Not revolutionary by any means – but if they can find the ideal combination of logistics and efficiency, the idea of saving money – no matter how little – could lure people in.
And the “hype meter” seems to be off the charts as they build anticipation in the business world. We’ll see!
Sign up for the free six month membership and give them a whirl once they go live!