JDA Group LLC on Friday said it named Newmark as the exclusive leasing agent for the commercial and medical office component of the Boundary, a newly approved, mixed-use vertical community on the Southwest Hoboken/Jersey City border. JDA plans to introduce a total of 500,000 square feet of live/work/play uses — including the first ground-up office construction for the Hudson Gold Coast in more than a decade.
Newmark Managing Director Harrison Russell, based in the commercial real estate services firm’s Rutherford office, is heading the assignment.
The Boundary, located at 50 Harrison St. in Hoboken, will include a six-story, 39,000-square-foot, state-of-the-art medical office building, suited for a single or multiple health care users. The mixed-use development will also have an additional 69,000 square feet of newly constructed office space, being leased by Newmark.
Additionally, the project includes Mission 50, an existing 80,000-square-foot boutique office and coworking community, a multifamily building, retail and restaurant space, a parking structure, meeting and catering venue, and a high-concept, landscaped, rooftop park with unobstructed views of Manhattan.
“The Boundary is a visionary project spearheaded by a local, family-owned development firm with a strong history of successfully repurposing assets. The elevated park and onsite parking further enhances the appeal of the new office space. There really is nothing like it in the marketplace,” Russell said. “Further, this area of northern New Jersey is underserved for Class A medical office accommodations, yet has a significant population density and deep network of hospitals and health care providers. With current demand for medical office — particularly in mixed-use settings — we anticipate meeting a significant community need.”
JDA Group’s CEO Greg Dell’Aquila cited Newmark’s track record in the regional market as key to this appointment.
“Harrison and the Newmark organization bring not just a high level of expertise, but a keen understanding of this specific product type and market area,” Dell’Aquila said. “In short, they see the importance and potential of this project and will drive the leasing as the Boundary takes shape in the months ahead.”
Set to break ground in mid-2022, the project’s commercial component will incorporate the medical office building and expand the existing Mission 50 building to six from four stories — including office space and an indoor/outdoor event venue.
JDA Group has partnered with award-winning firms on the Boundary, including Erdy McHenry Architecture, landscape architect Roofmeadow and QuallsBenson Advertising.
