Transactions - MARCH 18, 2022

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Office Building in Jersey City sells for $300m

by Released

A joint venture between Danish institutional investor PFA Pension and Spear Street Capital has sold an office building in Jersey City for $300 million.

The 431,281-square-foot office building located at 70 Hudson St. was acquired by Vision Properties and Hana Alternative Asset Management

“Due to the several qualities highlighted by the Cushman team, 70 Hudson is a premium office destination for credit tenants in the market. We are excited to grow our footprint along the New Jersey waterfront with such a tremendous asset and continue to drive value for our investors,” said Anthony Arena, president of Vision Properties.

Cushman & Wakefield (NYSE: CWK) announced that the real estate services firm has arranged the sale.

“Since 2016, the sellers have invested tens of millions of dollars to reposition this asset, resulting in 70 Hudson being one of the highest quality buildings on the waterfront,” said David Bernhaut of Cushman & Wakefield.

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