CBRE said last week that it completed nine office leases totaling 32,868 square feet at the Newport Center office tower complex in Jersey City.
The new signings demonstrate the draw of Jersey City and the Class A office complex located on the Hudson River waterfront owned by the LeFrak family.
The LeFrak team was led by Marylou Berk, Ray Kawas and Julie Prykull. The CBRE team of Howard Fiddle, Greg Barkan, Erin Wenzler, Gregg Rothkin and Caroline Merck spearheaded the office leasing at 100 and 111 Town Square Place, representing the building ownership in lease negotiations.
“100 & 111 Town Square Place are exceptional locations serving the needs of global and Fortune 500 tenants,” said Fiddle. “The newest leases at the Newport Center office complex signify the comeback of the office market as tenants make definitive decisions about their real estate requirements.”
At 111 Town Square Place, LeFrak has created a tenant amenity center on the 11th floor that includes a lounge and conference center. The transactions signed at the property were part of a pre-build campaign launched a year ago. Suites were built out with modern, attractive finishes including polished concrete floors, exposed high ceilings and natural light, glass-front interior offices and conference rooms, and high-end pantries.
The seven office leases completed at 111 Town Square Place are with AnGes, Profectus Beauty, GTD Solutions, Xeneta, Lotto.com and Open Vault, and PlayStar Gaming. One pre-built unit of 3,408 square feet remains available. Given the success leasing nearly all units on the 11th floor before completing construction, LeFrak and CBRE are now developing comparable suites on the fourth floor at 111 Town Square Place, and eighth floor at 499 Washington Blvd., both slated for completion in summer 2022.
LeFrak and CBRE also negotiated two new medical office space transactions at 100 Town Square Place on the sixth floor. The entire floor was repositioned to meet the demand for medical office space in the waterfront neighborhood of Jersey City. The two leases at 100 Town Square Place are a 3,453 square feet commitment by Everside Health and 5,167 square feet by RMA. One medical unit of approximately 5,000 square feet remains available.
Newport Office Center offers dramatic Manhattan and Hudson River views as well as ample on-site parking and convenient access to Manhattan via one stop on the Newport PATH; it is 20 minutes from Newark Liberty International Airport. The complex also provides tenants access to beautifully landscaped parks and outdoor spaces along the Hudson River, as well shopping and personal services in the adjacent mall featuring national retailers, Starbucks, banks, numerous restaurants, daycare options, fitness centers, and hotels with conference facilities.
