LeFrak Org. signs nine new leases at 111 Town Square Place - 62,440 s/f

The LeFrak Org. has signed nine new deals at 111 Town Square Place. The long-term leases, totaling 62,440 s/f, brought a variety of financial institutions, transportation companies, tech firms, and media companies into the class A office property, reflecting the wider trend of positive absorption rates across Jersey City and Newport specifically. "Leasing activity has been robust, due in part to Jersey City's healthy, low vacancy market, as well as our prime waterfront location across from the PATH station, which top-tier companies have been gravitating towards from both Manhattan and New Jersey," said Marylou Berk, Senior Vice President and Head of Commercial Real Estate at the LeFrak Organization. "We have been working in conjunction with Cushman & Wakefield, specifically Barry Zeller, Robert Rudin, Ed Duenas and Dave DeMatteis, who have added value to our marketing and leasing strategy for 111 Town Square Place." Brian Decillis, the LeFrak Organization's Regional Leasing Director for Newport, continued by saying, "corporations and brokers alike have been attracted to 111 Town Square Place because of its ability to accommodate small and large tenants, who may also require extensive IT infrastructure, disaster recovery and high-speed connectivity. In addition, a significant common area capital improvement plan is underway at the building, which has excited our tenants and the brokerage community." The transactions at 111 Town Square Place were a mix of deals with new tenants, expansions for existing tenants and lease renewals. The recently signed leases ranged in size and included: A 27,915-square-foot lease with Global Association of Risk Professionals (GARP), a not-for-profit membership association for risk managers. GARP was represented by Coldwell Banker Commercial Executive Vice President Peter Wisniewski. A 15,557-square-foot lease with Hartfield, Titus & Donnelly, a municipal bond brokerage firm. The company was represented in the transaction by Peter Sabesan, co-founding partner of Coldwell Banker Commercial Hunter Realty. A 7,303-square-foot renewal and expansion for Stagnito Media, a leading publisher of digital magazines, websites and e-newsletters. Stagnito Media was represented by Cushman & Wakefield's David DeMatteis and Marc Trevisan. A 3,215-square-foot lease with West Legend Corporation, a logistics and distribution supplier to home improvement retailers, contractors and manufacturers. West Legend was represented by Jones Lang LaSalle Senior Vice President Aaron Ellison. A 3,015-square-foot lease with Select Transportation Corporation (STC), a commercial freight transportation specialist. STC was represented in-house during the transaction. A 2,500-square-foot lease with C.H. Powell, a global provider of transportation and logistics services. C.H. Powell was represented by David DeMatteis of Cushman & Wakefield's East Rutherford, N.J. office. A 1,100-square-foot lease with Spotex, LLC, an institutional foreign exchange platform. Spotex was represented by Cushman & Wakefield Executive Vice President Barry Zeller and Executive Director Ed Duenas. A 1,000-square-foot renewal for IP Blue Software Solutions, a premier supplier of voice over Internet Protocol (VoIP) technologies. IP Blue Software was represented in-house. A 835-square-foot lease with Atlantic Capital, a commodities trading firm. Atlantic Capital was also represented in-house during the transaction. 111 Town Square Place is a 15-story, 500,000-square-foot Class A building, supporting office space and mission-critical IT infrastructure. Office, data and colocation space can be made available in a variety of sizes and configurations including pre-built as well as furnished suites.