Newport Office Center III at 499 Washington Blvd. in Jersey City — Courtesy: CBRE
By Joshua Burd
Two insurance firms have signed new leases along the Jersey City waterfront, combining for nearly 43,000 square feet at a LeFrak-owned office building.
The deals, which were announced Thursday by CBRE, include commitments from Aspen Insurance and EPIC Insurance. Both will occupy the eighth floor of Newport Office Center III at 499 Washington Blvd., with leases of 25,414 and 17,427 square feet, respectively.
The leasing team included Lefrak’s Marylou Berk, Ray Kawas and Julie Prykull and CBRE’s Howard Fiddle, Greg Barkan, Erin Wenzler, Gregg Rothkin and Caroline Merck.
“499 Washington Boulevard is ideally located and offers exceptional Class A office space to meet the demands of global and Fortune 500 companies,” Kawas said. “These two large lease commitments demonstrate that the office leasing market is making a comeback and that corporate tenants are once again looking to their future real estate requirements.”
Lefrak is currently performing cosmetic upgrades and adding a new lobby-level fitness center at 499 Washington Blvd., which is anchored by Ruth’s Chris Steakhouse and Los Cuernos Mexican Restaurant on the ground floor. With views of Manhattan and the Hudson River, the building has on-site parking and is steps from the Newport PATH station, along with the many dining, retail, and residential offerings of the sprawling Newport neighborhood.
CBRE noted that the deals with Aspen and Epic follow eight leases totaling 34,500 square feet at neighboring 100 and 111 Town Square Place.
LeFrak, CBRE ink 33,000 sq. ft. in office leases at Newport in Jersey City
