Investors double down on property deals in Jersey City’s Journal Square

TRD New York /
Apr.April 23, 2019 05:16 PM

Gaia Real Estate is set to move on a partial repositioning of its 300,000-square-foot office asset at 2 Journal Square, Real Estate NJ reported last week. Lead designer HLW has been tapped to reconfigure the office complex to add street-level retail and restaurant space. The new plans call for 30,000 square feet of retail space and redesigned lobbies at the property, as well as an updated chrome and glass facade, an exterior terrace and glass-walled stores. According to JerseyDigs, the existing Chase Bank will remain on the first floor on the building as two separate retail storefronts are are added. Rutherford-based retail broker RKF is handling leasing for the conversion. Meanwhile, fellow brokerage HFF last week completed the sale of a roughly half-acre site at 175 Sip Avenue in Jersey City’s Journal Square neighborhood. The property, as noted by NJ.com, was once home to the VIP Diner, where an episode of “The Sopranos” was filmed in 2006. Real Estate NJ reported that the site has been earmarked for redevelopment that could include a residential high-rise of up to 25 stories. Cushman & Wakefield represented the seller, although exact terms of the deal were undisclosed. [RealEstateNJ]


Related Articles

arrow_forward_ios
Extell Development president Gary Barnett and Kushner Companies founder Charles Kushner with a rendering The Lofts at Pier Village in New Jersey (Rendering via Extell Development)

Kushner Cos. buys Gary Barnett out of development on NJ waterfront

Kushner Cos. buys Gary Barnett out of development on NJ waterfront
An aerial view and a rendering of The Element at 400 Claremont Avenue (Credit: Google Maps)

Jersey City mixed-use project lands $120M in financing

Jersey City mixed-use project lands $120M in financing
Meadowlands Arena (Credit: Google Maps and iStock)

NBC spends $750K to transform arena in New Jersey swamp

NBC spends $750K to transform arena in New Jersey swamp
Thor's Joseph Sitt and the New Jersey Center of Excellence

Thor is breaking into the life sciences industry

Thor is breaking into the life sciences industry
Newark’s ‘Shaq Tower’ sets opening date, Rockefeller Foundation eyes OZ fund for Newark & more North Jersey real estate news

Newark’s ‘Shaq Tower’ sets opening date, Rockefeller Foundation eyes OZ fund for Newark & more North Jersey real estate news

Newark’s ‘Shaq Tower’ sets opening date, Rockefeller Foundation eyes OZ fund for Newark & more North Jersey real estate news
Placeholder image

NY Waterway exec, developer opens ‘hardcore’ gym in Cedar Knolls

NY Waterway exec, developer opens ‘hardcore’ gym in Cedar Knolls
Placeholder image

Logistics company pays $12.8M to acquire 121K sf warehouse in Clifton

Logistics company pays $12.8M to acquire 121K sf warehouse in Clifton
From Left to Right: Tower on Grove Street reaches stabilization milestone, Toll Brothers to market Hoboken spec office, Cross River pens Fort Less off-market trade, KRE Group inks Bayonne construction loan

Jersey City’s 90 Columbus hits leasing milestone, Toll Brothers markets spec office building in Hoboken & more North Jersey real estate news

Jersey City’s 90 Columbus hits leasing milestone, Toll Brothers markets spec office building in Hoboken & more North Jersey real estate news
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...