Jersey City Is Hot, Hot, Hot for Commercial Real Estate

Jersey City’s Harborside waterfront has long been a pleasant enough walking path for commuters headed to or from the train station. Today, though, Harborside has become the place to be. Soon to be anchored by a high-tech, 40-story Class A office building with 1.2 million square feet of space, Harborside is the place to be for those interested in commercial real estate.

The long-term plan for the area is ambitious, following Brooklyn’s lead in transforming office complexes from self-contained high rises into welcoming main streets that are fully connected to surrounding public spaces. The developer envisions restaurants, shops, and even a ferry stop along the Harborside walking path.

Originally freight storage for the Pennsylvania Railroad, three existing waterfront buildings form Phase I of the project. The buildings were converted to office space in 1982, and are now receiving an elaborate facelift. In recent years, the Jersey City waterfront has been a hot market for residential real estate, and the downtown population has now grown to the point that it can support a high-end commercial sector.

The location already boasts a popular seasonal beer garden, tables and seating along the walking path, and a variety of foodie events. Planned developments include new waterfront restaurants, a revamped food hall with a rotating lineup of kiosks, and a variety of retail and service businesses. The atrium of the Harborside tower will be a public gathering space, not only for tenants but also for the community.

Jersey City has long lagged behind other waterfront areas such as Brooklyn in fully embracing its prime location. With forward thinking developers and planners at work, though, Jersey City is finally on the cusp of coming into its own. A plethora of waterfront space combined with a forward-thinking, high-tech office complex is sure to make Jersey City a huge draw in the coming years.

If you are ready to move forward with a highly experienced and knowledgeable team that can handle all of your commercial real estate needs from a single point of contact, we invite you to contact Lee & Associates New Jersey today at (973) 337-1144. We look forward to developing a lasting professional relationship with you.

The information and details contained herein have been obtained from third-party sources deemed to be reliable. Some statements in this report are predictions or statements regarding future events, which involve risk and uncertainty, and there can be no guarantee that the results described in such predictions will transpire.