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.
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.
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.
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.
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.
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.