Mack-Cali Realty announced that SunGard Financial Systems, a financial software firm, will take 41,000 square feet at the developer’s Harborside Plaza 3 building on the Jersey City waterfront.
SunGard’s lease at the 12-story, 726,000 square foot office building will run through 2023.
While a representative for Mack-Cali declined to discuss rent for the space, newly installed CEO Mitch Rudin said last week that rents in Jersey City are “in the high $30s and $40s.”
Aaron Ellison and Tyler Vandegrift of JLL represented SunGard in the deal. Mack-Cali was represented by assistant vice president of leasing Tom Savoca, along with a team from CBRE, according to a press release.
Mack-Cali, New Jersey’s largest office landlord, owns the entire 3.1 million-square-foot Harborside office complex, with the exception of Harborside Plaza 10, which it sold in 2003 and still manages. The company is in the midst of selling $600 to $800 million in assets as part of an effort to focus its activities on the Jersey waterfront.
The investment bank Brown Brothers Harriman inked a deal for 115,000 square feet at Harborside Plaza 5 in July – Ariel Stulberg