When Nat Turner stepped into his new role as CEO of PSA’s parent company, he indicated a strong desire to increase the company’s physical presence beyond Southern California and another, smaller office in New Jersey. The first step in that process is now underway.
Collectors Holdings and Veris Residential, Inc. owner of an office complex in Jersey City, NJ have signed a long-term lease for approximately 130,000 square feet of office space there. The new facility is aimed at expanding PSA’s authentication and grading services of trading cards, tickets, autographs and other items.
Collectors Holdings says PSA’s “Harborside 3” space “will serve as a robust, efficient grading operation, helping the company to expand and improve upon its authentication and grading services of trading cards, tickets, autographs and more as quickly as possible.”
The East Coast location will also include administrative and executive offices and will serve as a complement to the company’s long-standing headquarters in Santa Ana, California.
“We’re incredibly excited about our new space at Harborside and what it means for the evolution of our business,” stated Turner, CEO and Executive Chairman of Collectors Holdings. “Beyond the operational capacity benefits, we see this location as a central driver for our recruitment of top-tier product, tech and business talent from the New York metro area. We’re creating an exceptional workplace for the fast-growing collectibles industry as well as a more convenient option for northeast collectors looking to ship, drop-off and pick-up submissions.”
Harborside 3, owned by Veris Residential, Inc., is a 10-story, Class-A high-rise building containing approximately 750,000 rentable square feet of office space. The building is part of the 3.2 million-square-foot Harborside campus composed of office space that offers views of Manhattan.
“We are pleased to welcome Collectors Holdings to Harborside 3,” said Mahbod Nia, Chief Executive Officer of Veris Residential. “Collectibles is an emerging industry, and we are thrilled PSA recognized the quality of our buildings, coupled with the unique live, work and play value proposition of the Harborside campus, and elected to locate here.”
The new office won’t be fully operational until 2023 but Collectors Holdings will have what the company calls “a select number” of staff members working at the new location this year. PSA’s existing East Coast office, based in Woodbridge, NJ, will eventually be merged with the Jersey City facility.
“Opening our doors on the East Coast, at a location ideally located to several substantial population centers, will not only expand our operations but also help to significantly boost our daily output and turnaround times,” added PSA President Kevin Lenane. “We believe this development is a tremendous step forward for the collecting community as we continue to reinvest in our business and deliver the growth that’s been asked of PSA.”