Kessler Rehabilitation Center, a physical therapy and rehabilitation provider, signed a lease to take 125,000 square feet of office space at Harborside 6, the 200,000-square-foot office building in Jersey City. The lease transaction was executed by Newmark on behalf of American Equity Partners (AEP). Terms were not disclosed.
Newmark said the successful lease execution was the largest, new office transaction in the submarket since Lord Abbett’s deal in September 2022. Overall asking rent in the first quarter in the Hudson Waterfront Region submarket that includes Jersey City was $46.42, more than $10 above the average of the other northern New Jersey submarkets, according to Cushman & Wakefield.
Newmark Senior Managing Director Jamie Drummond, Managing Director Dan Reider and Associate John Crawford represented AEP in the lease transaction. The tenant secured a long-term lease to occupy the top two floors, floors nine and ten, at Harborside 6.
Available office space at The Harborside 6, located at 135 Greene St., is rare, coming to market for the first time in years. Space can be used as a traditional or creative office, production studio, and medical or retail space.
The area around Harborside 6 has a fast-growing residential population and several Fortune 500 corporate tenants. The property is less than a half-mile from Exchange Place PATH and the Harborside Light Rail station and less than 2.5 miles from the Hoboken Ferry Terminal.
“Considering Kessler’s requirements, they quickly gravitated towards the notion of Harborside 6 given the alignment between their needs and the property’s infrastructure –encompassing robust power and backup systems, high ceilings and an accessible location offering an ideal environment for their patients,” said Principal David Elkouby of AEP.
Harborside 6 was acquired by American Equity Partners in September 2023 from Mack-Cali for $46 million.
