Newmark announces the sale of One Bridge Plaza in Fort Lee, NJ (the Property) on behalf of Mack-Cali Realty Corporation. Executive Managing Director Kevin Welsh, Managing Director Brian Schulz and Associate Jason Emrani of Newmark’s Capital Markets group represented the seller in the transaction, along with support from Vice Chairman and COO of New Jersey, David Simson. The team was also responsible for procuring the purchaser, a private investor.
One Bridge Plaza is a 206,500-square-foot, 10-story, Class A office building that was 69% leased to a diverse tenant roster at the time of the sale. The Property is located within Fort Lee’s emerging live/work/play lifestyle environment at the entrance to the George Washington Bridge, and boasts prominent visibility and a distinct skyline presence. One Bridge Plaza offers exceptional connectivity, with regional and international accessibility at the nexus of I-80 and I-95 and all three major NYC airports located within a 25-minute drive.
“One Bridge Plaza’s irreplaceable location and visibility offers a rare opportunity to create a best-in-class urban work environment through the implementation of a strategic capital improvement program and a powerful new brand identity for the Property,” said Welsh.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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