Cushman & Wakefield, Inc. has completed a 36,000 s/f, full-floor sublease from Rabobank to CarePoint Health at 10 Exchange Place, on Jersey City’s Hudson River waterfront.
Dan Johnsen, Robert Rudin, Michael Burgio, Daniel Organ, Robert Gastel and Franklin Speyer at Cushman & Wakefield represented Rabobank.
Jaime Weiss and Matthew Weiss of Moonachie, N.J.-based Weiss Realty represented CarePoint Health, which will utilize the space for administrative functions.
“This transaction will allow CarePoint Health to continue its rapid growth,” said Johnsen, noting that the team continues to market a second long-term sublease on behalf of Rabobank in the same property, where 32,000 s/f on most of the 16th floor remains available.
“CarePoint Health required access to public transportation, on-site parking and 24/7 access, and after an extensive survey of available space, 10 Exchange Place met all of those requirements and more,” said Jaime Weiss.
“Public transportation is literally right at the door — indeed, the light rail actually connects directly with CarePoint Health ’s headquarters in Bayonne. There is also banking and food service within the building and immediate vicinity. Rabobank left all furniture and fixtures intact when it transferred its New Jersey employees to the bank’s New York City office last year.
Weiss added, “CarePoint Health was willing to take possession and pay rent now—it was a tremendous advantage to walk into the space and just sit down and hook up laptops into existing construction. That was a motivating factor.”
“With everyone’s cooperation, we were able to complete the largest leasing transaction on the Hudson waterfront in the second quarter,” said Johnsen. “While velocity has been somewhat sluggish, the fact that we were able to capture this full-floor deal definitely sends a positive message for the market.”