A rendering of new ground-floor retail and restaurant space at 2 Journal Square in Jersey — Courtesy: HLW
By Joshua Burd
A pizza concept is joining the retail mix at an office building in Jersey City, whose owner has committed more than $10 million to reposition and upgrade the nine-story property.
Brokers with Newmark Knight Frank announced Monday that the eatery, Chicago’s Pizza With a Twist, has leased 1,240 square feet at 2 Journal Square, under a transaction with landlord GAIA Real Estate. The store will mark the operator’s second New Jersey location, joining Chase and BurgerIM as retailers at the 325,000-square-foot building.
NKF Senior Managing Director Glenn Beyer and Associate Director Robert Mackowski negotiated the lease.
“Gaia Real Estate’s continued investment in 2 Journal Square will continue to draw in a diverse pool of tenants in both the office and retail spaces that will support each other, with the retail offerings like Chicago’s Pizza with a Twist drawing in employees in the office spaces and those employees becoming patrons of the retail tenants,” Mackowski said. “We were thrilled to have supported both GAIA and Chicago’s Pizza With a Twist in negotiating this lease.”
Located steps from the Journal Square PATH station, 2 Journal Square includes some 30,000 square feet of retail space. The shopping and dining component is new to the building as part of GAIA’s previously announced, $11 million upgrade to capitalize on the renewed interest in the historic Jersey City neighborhood.
“The building’s recent renovations and prime location will provide our business a steady flow of customers as well as a high-quality restaurant space,” said Virender Singh, franchisee for Chicago’s Pizza With a Twist. “We are excited to get the restaurant up and running and bringing this unique brand to the Journal Square neighborhood.”
GAIA and NKF, which is also marketing the building’s office space, noted that 2 Journal Square also includes a below-grade customer parking deck with more than 700 parking spaces. HLW is overseeing the redesign and modernization of 2 Journal Square, which was built in 1987, with plans calling for common area renovations and new tenant amenities such as conference rooms and fitness facilities.
“At GAIA we are committed to providing high-functioning, modern spaces to our tenants, no matter their industry,” said Yvonne Sun, senior vice president at GAIA Real Estate. “2 Journal Square’s location coupled with the major renovations taking place in the building’s office spaces will make it one of the preeminent destinations in the area.”