Kessler Rehabilitation Heart has leased 125,000 sq. ft on the ninth and tenth flooring of Harborside 6 in Jersey Metropolis, N.J. American Fairness Companions owns the 10-story, 207,670-square-foot workplace constructing.
The lease deal was the most important new workplace transaction within the submarket since September 2022, in line with Newmark. Senior Managing Director Jamie Drummond, Managing Director Dan Reider and Affiliate John Crawford represented AEP within the transaction.
Drummond mentioned Kessler will use the area for inpatient rehabilitation hospital and different inpatient and outpatient post-acute health-care providers. Kessler is a part of the Choose Medical Outpatient Division, a nationally famend and community-based bodily remedy and rehabilitation supplier. The middle presents occupational and hand remedy, sports activities medication, office damage remedy and prevention and specialised rehabilitation providers.
Harborside 6 highlights
AEP acquired the constructing for $46 million from Veris Residential in 2023, securing a $29.3 million bridge mortgage from Kawa Capital Administration for the acquisition, in line with CommercialEdge. Previously generally known as Mack-Cali Corp., Veris offered all its city and suburban workplace properties because it modified its focus to multifamily actual property.
That is the primary time workplace area at Harborside 6, positioned on a 2.3-acre web site at 135 Greene St., has hit the market in years. Accomplished in 2002, the constructing additionally has a Entire Meals Market on the bottom flooring and a seven-story parking storage with about 1,100 parking areas. Floorplates are 63,000 sq. ft, in line with CommercialEdge. The Class A property has 17-foot slab-to-slab ceiling heights and floor-to-ceiling home windows.
“Harborside 6 at 135 Greene St. is a transparent instance of the rising demand for high-quality workplace area in Jersey Metropolis, significantly properties that mix top-tier facilities with distinctive connectivity,” Newmark Analysis Supervisor Lukas Berasi instructed Industrial Property Government.
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The constructing is a part of the three.2 million-square-foot Harborside campus, a mixed-use property that additionally contains 3,000 residential models. On-site facilities function a big atrium with seating and occasion area, a meals corridor, a retail concourse, a daycare heart, a financial institution, urgent- and primary-care medical workplaces and two parking garages.
The campus additionally encompasses a New York Waterway Ferry terminal and presents quick access to NJ Transit’s Hoboken Terminal and Newark Liberty Worldwide Airport.
Berasi mentioned top-tier property like Harborside 6 proceed to draw important area commitments as demonstrated by the Kessler lease.
“Demand for high-quality workplace area stays sturdy with premier buildings persistently outperforming the broader market by way of absorption. The flight to high quality throughout Jersey Metropolis and Northern New Jersey is clearly evident, as Class A properties now account for greater than 55 % of complete leasing exercise,” Berasi concluded.
