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New York & Tri-State  + New Jersey  + Office  | 
Jersey City Office Building Changes Hands for $300M

Jersey City Office Building Changes Hands for $300M

Cushman & Wakefield has arranged the sale of a 431,281-square-foot office building located at 70 Hudson Street in Jersey City, NJ. The final sale price was $300 million.

Cushman & Wakefield’s David Bernhaut, Adam Spies, Kevin Donner, Marcella Fasulo, Andrew Merin, Gary Gabriel, Frank DiTommaso and Ryan Larkin, along with local leasing specialists Ed Duenas and Rob Lowe, represented the seller, a joint venture between Danish institutional investor PFA Pension and Spear Street Capital. 

The building was acquired by Vision Properties and Hana Alternative Asset Management, who was advised by Alpha Asset Management.

“Due to the several qualities highlighted by the Cushman team, 70 Hudson is a premium office destination for credit tenants in the market. We are excited to grow our footprint along the New Jersey waterfront with such a tremendous asset and continue to drive value for our investors,” said Anthony Arena, President of Vision Properties.

“Since 2016, the sellers have invested tens of millions of dollars to reposition this asset, resulting in 70 Hudson being one of the highest quality buildings on the waterfront,” said Cushman & Wakefield’s David Bernhaut.

“We received significant interest in this property given the credit tenancy, occupancy and location in a key office market in New Jersey,” added Spies.

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Cushman & Wakefield PFA PensionSpear Street Capital Vision Properties Hana Alternative Asset ManagementAlpha Asset Management Group

About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

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