Bank Of America Signs 15-Year Lease For 550,000 SF At Newport Tower In Jersey City | 525 Washington Boulevard | Mina Shehata, David DeMatteis, Taylor Callaghan, Robert (Bob) Alexander, Robert Rudin, Dirk Hrobsky, Ryan Alexander | Office | Lease

Summary

Lease

NEW JERSEY

Office

550,000 sqft

Bank of America has signed a record-breaking 15-year lease for 550,000 square feet at BGO's Newport Tower in Jersey City. The lease is valued at $122 million and spans 21 floors. This deal is significant as it is the only new lease over 500,000 square feet in New Jersey in the last 10 years. The tentative move-in date is set for the first quarter of 2026.

Summary of transaction details:

Property Type: Office
Transaction Amount: $122 million
Address: 525 Washington Boulevard, Jersey City
Square Footage: 550,000
Market: Jersey City

The landlord for this lease is Rob Naso from BGO, while the tenants are Alberto Garofalo and Gustavo Fernandez from Bank of America. Representing the landlord in this deal are David DeMatteis, Dirk Hrobsky, Mina Shehata, and Robert Rudin from Cushman & Wakefield. On the other hand, the tenant's representatives are Bob Alexander, Ryan Alexander, and Taylor Callaghan from CBRE.

Players

All
9

Agents
7
Agencies
2

Robert (Bob) Alexander

Executive Managing Director

Details

Deal Summary

LEASED

IMAGE: Rob Naso, Alberto Garofalo, David DeMatteis, Dirk Hrobsky, Mina Shehata, Robert Rudin, Bob Alexander, Ryan Alexander & Taylor Callaghan DATE: 01/16/2024 ADDRESS: 525 Washington Boulevard MARKET: Jersey City ASSET TYPE: Office ~ SF: 550,000 LANDLORD: Rob Naso - BGO TENANT: Alberto Garofalo & Gustavo Fernandez - Bank of America (@BankofAmerica) LANDLORD'S REP: David DeMatteis, Dirk Hrobsky, Mina Shehata & Robert Rudin - Cushman & Wakefield (@CushWake) TENANT'S REP: Bob Alexander, Ryan Alexander & Taylor Callaghan - CBRE (@CBRE) LEASE TERM: 15-year NOTE: Bank of America has signed a record-breaking 15-year lease for 550,000 square feet at BGO's Newport Tower in Jersey City, valued at $122 million. The deal, spanning 21 floors, is the only new lease over 500,000 square feet in New Jersey in the last 10 years, with a tentative move-in date set for the first quarter of 2026.

View on map

Address525 Washington Boulevard

Comparables

This user does not have deals with the selected filters yet.
Reset filters to show results.

Contact

Get in touch with the broker you want