Newport Office Center III at 499 Washington Blvd. in Jersey City — Courtesy: CBRE
By Joshua Burd
An insurance firm has taken nearly 34,000 square feet of office space in Jersey City’s Newport district, in the largest of five newly announced leases in the area by brokers with CBRE.
The tenant, Berkley Insurance, will occupy part of the ninth floor in the 15-story, 620,000-square-foot tower known as Newport Office Center III. The commercial lines property and casualty insurer is leasing the space at 499 Washington Blvd. from LeFrak, whose Meredith Jackness, Ray Kawas and Tim Johnson brokered the 33,843-square-foot transaction alongside CBRE’s Howard Fiddle, Benjamin Joseph, Greg Barkan and Erin Wenzler.
The team also secured a commitment from BPCE Equipment Solutions, a provider of industrial equipment lease financing, which will occupy 6,201 square feet at Newport Office Center I. It’s the largest of four recent leases at the 15-story, 480,000-square-foot property at 111 Town Square Place, which also include:
- 3,005 square feet by Democracy Docket, a voting rights and media platform that tracks election litigation
- 1,551 square feet by Kaya Tech, an enterprise AI platform
- 2,562 square feet by Playstar, an online gaming platform that is renewing
“We are thrilled to have completed a number of new leases at two of the most prominent business addresses in Jersey City,” Fiddle said. “Newport continues to serve the needs of a wide range of industry-leading firms. These occupiers were attracted by the stable hands-on ownership and incredible location in the heart of the Jersey City waterfront.”
The tenants are among the many businesses and Fortune 500 companies that lease office space at Newport, an iconic master-planned neighborhood with Manhattan and Hudson River views, PATH service and a long list of service, retail and restaurant options alongside thousands of apartments.
“These recent leasing commitments reinforce Newport as a leading 24/7 mixed-use community, providing world-class working environments, easy access to public transportation, multiple dining and shopping opportunities and convenient neighborhood amenities,” said Kawas, director of leasing with LeFrak.
