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Vacant AICPA Space Gets New Push

JERSEY CITY, NJ-The organization's 200,000-sf block has been on the sublet market for more than two years.

By Eric Peterson | Updated on February 26, 2008

JERSEY CITY, NJ-The American Institute of Certified Public Accountants has had a 200,000-sf block on the sublet market for more than two years with no takers, and now that space is getting a new push. Spread over three floors of the 725,000-sf Harborside Financial Center Plaza III building, the space went vacant at the end of 2005 when the organization moved its operations to Durham, NC and other locations.

The effort to jumpstart the search for sublet tenants falls to Cushman & Wakefield, which has just picked up an exclusive leasing assignment that had been in the hands of another firm until now. On behalf of AICPA, David Stifelman and James Postell of C&W’s East Rutherford, NJ office are heading the assignment. Mack-Cali Realty Corp. of Edison, NJ owns the building, which is part of a six-building, 3.6 million-sf waterfront office complex.

“Harborside is recognized among the Hudson waterfront’s most desirable corporate addresses,” Stifelman says. “Class A leasing activity on the waterfront was robust through 2007, including a large number of Manhattan-to-New Jersey relocations prompted by historically high rental rates and a tight inventory in New York City.

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