A partnership between Kushner Companies and The KABR Group announced Thursday that it has purchased a commercial tower in the heart of Jersey City’s Journal Square neighborhood.The building, 26 Journal Square, is a 16-story, 105,000-square-foot property. The pair intends to update the property “into a hub for creative firms.”
“There’s tremendous upside in the Journal Square area and this purchase continues our push to create a vibrant, mixed-use district,” said Laurent Morali, president of Kushner Cos. “26 Journal Square provides a great opportunity for creative tenants looking for a transit-friendly home in one of the region’s most cutting-edge office and residential locations.”
The partnership, which has more than 4 million square feet under development in Jersey City, plans to team up on more mixed-use projects in the area.
Financial terms of the deal were not disclosed.