Jersey City's Newport Tower adds retail tenant, retains office occupiers

The latest office activity in Jersey City includes a new retail lease to round out the offerings at Newport Tower along the waterfront.

In addition to that long-term agreement, Cushman & Wakefield arranged three long-term office lease renewals for the Class A property. CushWake announced the deals for the building located at 525 Washington Blvd. Oct. 1.

The global commercial real estate services firm started the year securing a big Newport Tower lease for Bank of America . Covering 550,000 square feet, the deal will allow the bank to consolidate all its Jersey City employees in one building, across 21 floors. The latest agreements include:

• Poke Bowl NYC 1,448 square feet, in the retail arcade. RIPCO Director Estelle Holm Pedersen represented the tenant.



• Wedbush Securities 11,125-square-foot lease renewal. Newmark Executive Managing Director David Kluth and Managing Director Dan Reider represented the diversified independent financial services provider tenant.



• Hudson Edge Investment 3,796-square-foot lease renewal. Savills Senior Vice President Chris Marx represented the asset management company tenant.



• Pearson VUE 3,894-square-foot lease renewal. Cresa’s Mike McKenna represented the tenant, a provider of professional certification and licensure exams.

 

Cushman & Wakefield Executive Managing Director David DeMatteis and Executive Director Mina Shehata represented the landlord, BGO , in the office renewals. Executive Director Neil Seth and Senior Associate Kathryn Cruz represented the landlord in the retail lease.

A 'standout'

Citing its quality, location and ownership, DeMatteis described Newport Tower as a "standout choice for tenants seeking a stabilized office environment."

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Newport Tower amenities

Retail arcade with eight dining options, on-site Fitness Factory, game room, coworking spaces, meeting rooms, conference center, tenant lounge, bike storage, 24-hour enclosed parking, enclosed skybridge connection to Newport Centre Mall

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“Anchored by Bank of America, this property epitomizes top-tier office space that prioritizes connectivity, convenience and a superior live-work-play experience ," he continued. "Recent leasing activity and growing interest in Jersey City further demonstrate the strong demand for properties like Newport Tower that support business success and employee well-being.”

At 36 stories, Newport Tower offers an amenity rich mixed-use district located across from the Newport PATH station. The building recently underwent a multimillion-dollar transformation, CushWake said. As a result, tenants now enjoy a newly designed building entrance, a two-story glass atrium lobby and an amenity center.

Current availabilities at Newport Tower range from 2,000 square feet to 40,000 square feet, Cushman & Wakefield said.

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