Office
Lord Abbett takes 178,000 sq. ft. at Goldman Sachs tower in Jersey City

Investment manager Lord Abbett & Co. is relocating its headquarters in Jersey City after leasing nearly 180,000 square feet at one of the state’s best-known office buildings.

Office
Jersey City office tower changing hands in sale of Columbia Property Trust

A prominent Jersey City office building is set to change hands after its owner, Columbia Property Trust, announced Tuesday that the company would be acquired for $3.9 billion.

Office
Panel: Interest in office space picking up as employers mull re-entry plans, hybrid schedules

Employers are hoping to find a middle ground as they determine how best to bring workers back to the office. While that strategy is still taking shape, occupiers have already begun to weigh their post-pandemic options in places such as Jersey City, driving an uptick in building tours and the prospect of new leasing activity.

Finance & Capital Markets
Developers land $94 million financing package for revival of iconic Paterson stadium

A development team has closed on more than $90 million in financing for a project that centers on restoring Paterson’s historic Hinchcliffe Stadium.

Office
AIG to join growing tenant roster at Goldman Sachs tower, inking 230,000 sq. ft. lease

American International Group Inc. will lease a reported 230,000 square feet at the Goldman Sachs tower in Jersey City, marking the latest high-profile addition to the 40-story building.

Office
Merck spinoff taking 110,000 sq. ft. at Goldman Sachs tower in Jersey City

A new Merck & Co. spinoff is moving to the Goldman Sachs tower in Jersey City, where it’s reportedly set to occupy 110,000 square feet for its global headquarters.

Government & Public Policy
Murphy names new EDA board chair amid ongoing calls for reform

Gov. Phil Murphy has named a new board chair of the Economic Development Authority, tapping a fellow former Goldman Sachs executive as part of his plan to overhaul the agency.

Office
NKF: New Jersey office leasing hits two-year high for absorption

New Jersey’s office market is riding high from a series of blockbuster leases over the summer, recording its highest quarterly increase in net absorption in two years.

Top News
Building boom, condo tower put Jersey City on the map in skyscraper study

The development boom along the Hudson waterfront has put Jersey City in rare company, making it one of only 18 U.S. cities with at least five skyscrapers. That’s according to a recent study of high-rise architecture by Yardi Matrix, a commercial real estate research and data platform, which also found that Jersey City currently has the fourth-tallest building under construction in the U.S. That project, 99 Hudson, is a 79-story luxury condominium tower that is slated to rise 889 feet when it opens next year.

Retail
Triple Five completes $1.1 billion bond sale needed to reboot American Dream

The developer of the American Dream project in the Meadowlands has assembled the nearly $3 billion financing package needed to complete the massive retail and entertainment complex, allowing it to resume construction and look ahead to a March 2019 opening.