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.
Office leasing in New Jersey slowed significantly in the second quarter, with renewals and extensions accounting for most of the activity as tenants navigated the coronavirus crisis.
New Jersey’s two largest cities started the year with high-profile office deals, but consolidations have caused an uptick in vacant space for the regional leasing market in the state.
In Jersey City, fashion designer Tory Burch has leased 93,000 square feet over two floors at 499 Washington Blvd., an office tower in LeFrak’s master-planned Newport community.
