Apparel designer and maker Jaclyn has signed a lease agreement for a new corporate office building and said it would relocate there from West New York, NJ later this year.

The lease of the offices in Maywood, NJ has a ten-year term. The company has an option to buy the building at any time during the lease at a maximum price of US$3.08m, plus increases based on a multiple of the consumer price index.

Jaclyn has signed an option contract to sell its West New York office and warehouse facility.

"While there is no assurance that the sale of the West New York facility will be successfully concluded, the company decided to relocate its corporate headquarters to a more suitable, practical space and believe it is in the company's best long-term interest to relocate," the company said.