LeFrak, CBRE arrange Newport leases totaling 42,851 square feet

Representing a cumulative 42,841 square feet, two new tenants signed on at Jersey City’s Newport Office Center III.

On March 10, LeFrak and CBRE announced completing a transaction with Aspen Insurance for 25,414 square feet and a commitment with EPIC Insurance for 17,427 square feet, both for the the eighth floor at 499 Washington Blvd.

The LeFrak team was led by Marylou Berk, Ray Kawas and Julie Prykull. A CBRE team of Howard Fiddle, Greg Barkan, Erin Wenzler, Gregg Rothkin and Caroline Merck spearheaded office leasing at 499 Washington Blvd., and represented building owner LeFrak in the lease negotiations.

“499 Washington Blvd. is ideally located and offers exceptional Class A office space to meet the demands of global and Fortune 500 companies,” Kawas said in a statement. “These two large lease commitments demonstrate that the office leasing market is making a comeback and that corporate tenants are once again looking to their future real estate requirements.”

Slated to be completed this summer, the eighth floor at 499 Washington Blvd. has just one remaining unit, at 3,519 square feet, available. The entire 46,360-square-foot seventh floor remains available, either complete or divisible.

LeFrak is currently revamping the lobby and adding a new fitness center to the building, which is anchored by Ruth’s Chris Steakhouse and Los Cuernos Mexican Restaurant. The firm also recently completed leases totaling 33,000 square feet at the neighboring 100 and 111 Town Square Place.

Situated along the Hudson River, Newport Office Center offers views of Manhattan, on-site parking, and one-stop service to New York City via the Newport PATH.