LeFrak and CBRE arrange two offices leases totaling 42,851 s/f

Jersey City, NJ LeFrak and CBRE announced they have completed two new office leases totaling 42,841 s/f at Newport Office Center III, a Class A office complex located at 499 Washington Blvd. The new signings demonstrate the draw of Jersey City, as well as the Class A office complex located on the Hudson River waterfront owned by LeFrak which recently signed eight leases totaling 34,500 s/f at neighboring 100 and 111 Town Square Place. 
 
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 spearhead the office leasing at 499 Washington Blvd. and represented building ownership in the lease negotiations. 
 
“499 Washington Blvd. is ideally located and offers exceptional Class A office space to meet the demands of global and Fortune 500 companies,” said Kawas. “These two large lease commitments demonstrate that the office leasing market is making a comeback and that corporate tenants are once again looking to their future real estate requirements.”

The new office transactions completed at 499 Washington Blvd. include Aspen Insurance’s 25,414 s/f commitment and EPIC Insurance's 17,427 s/f lease, both in part of the building’s eighth floor. One unit of 3,519 s/f remains available on the eighth floor which is being prebuilt and is slated for completion in the summer of 2022. In addition, the entire seventh floor totaling 46,360 s/f remains available (as a full floor or divisible). Lefrak is currently performing cosmetic upgrades to the lobby as well as adding a new lobby-level fitness center at 499 Washington Blvd., which is anchored by Ruth’s Chris Steakhouse and Los Cuernos Mexican Restaurant on the ground floor. 

Newport Office Center offers Manhattan and Hudson River views as well as on-site parking and access to Manhattan via one stop on the Newport PATH. Twenty minutes from Newark Liberty International Airport, the complex 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.