Investment bank Brown Brothers Harriman (BBH) has just signed a new 11-year lease for 114,798 square feet at Harborside Plaza 5 in Jersey City, New Jersey. The deal, which was just announced by Mack-Cali Realty Corporation, means that BBH will transfer over 500 employees to its new location.
Harborside Plaza 5 is a 977,225-square-foot, class A office tower located in the heart of Jersey City. The building has landscaped outdoor seating areas, restaurants, and views of the Manhattan skyline and New York Harbor. The property is currently 99 percent leased.
Harborside, a waterfront complex, contains working and living spaces such as a grand atrium and an on-site Hyatt Regency. It also offers immediate access to the PATH station and light rail— with the aim of providing tenants a convenient location for their business.
The tenant was represented by Scott Gamber, Robert Stillman, and Peter Gamber of CBRE. Mack-Cali was represented by its in-house team of Chris DeLorenzo, senior vice president of leasing, and Tom Savoca, assistant vice president of leasing, as well as the CBRE team of Mark Ravesloot, Peter Turchin, Gerry Miovski, Suzanne Macnow, and Arkady Smolyansky.
“We’re thrilled to welcome Brown Brothers Harriman to the Mack-Cali portfolio. Harborside Plaza 5 was an ideal choice for BBH due to the efficiencies generated by the building’s large floor plates, modern design, state-of-the-art infrastructure, and premier telecom connectivity. We look forward to serving their needs for years to come,” said Mitchell E. Rudin, the chief executive officer of Mack-Cali.
The new deal boosts occupancy in Mack-Cali’s class A properties. The company owns or has interests in 278 properties, consisting of 259 office and office/flex properties totaling approximately 30.4 million square feet and 19 multi-family rental properties containing approximately 5,700 residential units, all located in the Northeast.