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2 Journal Square Plaza sells for $78 million

2 Journal Square

By Roland Li

A partnership of Gaia Real Estate Investments and Israeli-based Phoenix Insurance and Menora Mivtachim Insurance have purchased the nine-story 2 Journal Square Plaza in Jersey City for $78 million.

Hartz Mountain Industries, which built the 325,000 s/f building in 1987, was the seller. Broadridge Financial Solutions occupies the majority of the building, with a lease that expires in 2018.

David Bernhaut, Andrew Merin, Gary Gabriel and Jared Zimmel of Cushman & Wakefield”s Metropolitan Area Capital Markets Group represented the seller.

“The fact that it has been leased on a long-term basis to a premier financial services company and has close proximity to Wall Street, 2 Journal Square drew a great deal of interest from potential investors,” said Bernhaut, in a statement. “The buyer readily understood the value of this offering as one of the premier assets of its kind currently on the market due in part to the building’s technology infrastructure, power and redundant systems.”

The transaction involved a loan assumption. Vision Property Management, a subsidiary of Gaia, will take over building management.

2 Responses

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  1. Texas Ranches For Sale
    Jan 13, 2012 - 05:20 AM

    The author of this article works with Classic Country Land LLC which is associated with the countryside and offers government land for sale, Texas ranch land for sale across the United States.

  2. duPerier
    Feb 26, 2012 - 12:06 AM

    You have all seen them, you have all been tempted – the buy a plot of land and get rich nearly quick schemes for Joe Public so they may compete with the big boy developers with the opportunity of buying your very own building plot in a green field site set up by some smooth talking limited liability company. How real an opportunity are these agricultural building plots for the average greedy Joe Punter? I have my views – what about you? Buy cheap and sell high is a great thing if it has no conditions. These small building plots have more conditions to making money than you would imagine with the very first one being – You Have To Get Planning Permission First You Dummy! Well that’s easy isn’t it? Go read our article and be prepared for real life events and not the potentuially worthless projections many are inferring.


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