By Joshua Burd
A financial services firm has renewed its lease in Jersey City’s iconic Newport district, where it occupies more than 11,000 square feet for its corporate headquarters.
According to Cresa, which represented the tenant, Hatfield Titus & Donnelly has signed a new five-year commitment at 111 Town Square Place. The brokerage occupies 11,357 square feet at the property, which is owned by LeFrak.
“It continues to be a pleasure to work with HTD and have a ringside seat watching its steady growth, over the decades,” said Peter Sabesan, a managing principal with Cresa. “Renewing a lease again at 111 Town Square Place was a wise decision from the standpoint of location, services, access to transportation, amenities and value.”
Sabesan brokered the renewal in tandem with Dennis Gralla, also a managing principal with Cresa, while LeFrak’s Ray Kawas represented the landlord in-house. Cresa said the asking rent for the renewal was $45 per square foot.
The brokerage team also represented HTD in a lease at 2,600 North Military Trail in Boca Raton, Florida, working alongside Robert Orban of Cresa’s South Florida office. HTD occupies 2,856 square feet at the building under a deal with Bridge Investment Group.
“Like many firms, we were looking for ways in which we could best manage our office space in this post-pandemic period,” said Chris Ferreri, HTD’s chief operating officer. ”We were very fortunate to have Peter’s institutional expertise and his long-term experience with our firm. We’re excited that we are able to remain in a LeFrak property and owe a debt of gratitude to Peter for helping us through the process.”
