Newmark Grubb Knight Frank (NGKF) is pleased to announce the renewal of Mizuho at Harborside Plaza 10 in Jersey City, New Jersey. Mizuho, currently the largest tenant at Plaza 10, renewed its lease of approximately 105,000 square feet on the top three floors of the building for an additional 15-year term. Executive Managing Director Timothy Greiner, Managing Director Hope Brodsky, Managing Principal Hal Stein, and Associate Colleen Maguire of NGKF serve as exclusive leasing agents for the 17-story, 600,000-square-foot building owned by an affiliate of Dividend Capital Diversified Property Fund, Inc.
Mizuho was represented in the transaction by CBRE brokers Douglas Lehman, Robert Flippin, Nicholas Hilton and Brett Shanon in connection with their renewal at Harborside Plaza 10.
“This transaction is a win for Mizuho, enabling the company to maintain its occupancy at the top of one of the premier buildings on the New Jersey waterfront,” said Robert Flippin, CBRE Executive Vice President. “After investigating alternative locations within the market, Mizuho determined that Harborside Plaza 10 was its best option both financially and qualitatively. The company has been an occupant at the building since 2002 and understands the inherent quality of the building and its infrastructure, enabling it to confidently re-commit on a long-term basis.”
Constructed in 2002, Harborside Plaza 10 was previously master leased to Charles Schwab & Co. through September 30, 2017. The building is currently undergoing significant renovations which will enhance and modernize this Class A Hudson Waterfront property. The updated lobby will include a concierge desk, security turnstiles, a new tenant lounge area with Wi-Fi and cable TV, as well as contemporary lighting, art décor and furnishings for increased verve. In addition, a brand new café, Ground Connection, opened this month serving a fresh “from scratch” all day menu. The current tenant roster at the building includes Bank of Montreal, Citgo Financial Services and Deloitte among others. “Harborside Plaza 10 offers tenants the best in class views, architecture, floor plates and property sponsorship on the Hudson waterfront”, states Eileen Hallquist, senior vice president, asset management on behalf of the owner.
Accommodating tenants of various sizes, Harborside Plaza 10 has both large and small blocks of space ranging from approximately 1,500 square feet to 140,000 square feet becoming available in October of 2017.
“Harborside Plaza 10 creates an ideal work/live/play environment, along the beautiful Hudson River waterfront, capitalizing on new nearby residential developments,” said Greiner. “Presenting unobstructed views of the Manhattan skyline, the Class A office space with brand new building amenities, Plaza 10, offers a prime opportunity for tenants of all types and sizes.”
Brodsky added, “Plaza 10 is now marketing spaces that have not been previously available on the market. Our new availabilities will be part of a marketing campaign including a building website (www.plazaten.com) with renderings of the planned lobby renovations, brand new café, sample test-fits and a photo gallery for prospective tenants to review”.
Located on the Hudson River and adjacent to the Harborside Financial Center complex, Harborside Plaza 10 is in close proximity to an array of restaurants, shopping, public transportation and New York City. The Exchange Place PATH and Light Rail, as well as the Paulus Hook Ferry, are just blocks away from the building, offering quick and easy access to New York.
About Dividend Capital Diversified Property Fund
Dividend Capital Diversified Property Fund (DPF) is an innovative net asset value (NAV) real estate investment trust (REIT) that provides investors pooled access to an established portfolio of high-quality, income-producing commercial real estate properties. As of March 31, 2016, DPF’s $2.2 billion portfolio is diversified across property type - with retail, industrial and office property ownership - as well as diversified geographically across the United States and among its tenant base. DPF’s experienced management team is actively involved in the ownership, operations and development of commercial real estate. DPF is part of the Black Creek Group family of companies. Black Creek Group is an institutional commercial real estate private equity firm with almost $6.0 billion in commercial real estate assets under management and approximately $16.4 billion in historical transaction volume as of June 30, 2016.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.