Newmark Gets Newport Office Center 1 Assignment

Originally appeared in GlobeSt.com on 02/18/05 By Eric Peterson
Last updated: February 18, 2005 09:57am

JERSEY CITY, NJ-Newmark Real Estate, which has its New Jersey offices in Woodbridge and Rutherford, has picked up the exclusive leasing assignment for the Lefrak Organization’s Newport Office Center I on this city’s waterfront. Located at 111 Pavonia Ave., the 15-story building encompasses 562,500 sf of class A space.

“We have approximately 20,000 sf of data space available, and about 15,000 sf of office space available,” says Hope Brodsky, a director in Newmark’s Rutherford office. “There are a lot of deals happening in the Jersey City market, and we expect more activity this year compared to 2004. We have several proposals for the space already pending.”

“We are expecting this space to lease up quickly,” says Newmark principal Scott J. Klau of the firm’s Manhattan office. Besides Brodsky and Klau, others working the assignment are managing director Jim Sousa in Rutherford and principal Neil Goldmacher and managing director Erik S. Harris of the Manhattan headquarters office.

Two of the other major assignments Newmark has picked up involve properties owned by the Secaucus, NJ-based Hartz Mountain Industries, according to Norman Baker managing principal in the Rutherford office. The two properties are 9 Entin Rd., a three-story, 192,000-sf asset; and 65 Challenger Rd., a five-story, 167,391-sf building. According to Hartz’s web site, 9 Entin Rd. currently has 105,000 sf available, while 65 Challenger Rd. has 22,290 sf vacant.

Finally, Paul Giannone, managing principal in Newmark’s Woodbridge office tells GlobeSt.com that his group has picked up more than 250,000 sf of assignments, which he declined to identify at this time.