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Broadridge Financial Renews 320,000 SF

JERSEY CITY-In what is being touted as one of the largest office deals in the Tri-State region this year, Broadridge Financial Solutions Inc. renewed and expanded its lease at 2 Journal Sq.

By Maria Wood | Updated on October 28, 2009

JERSEY CITY-In what is being touted as one of the largest office deals in the Tri-State region this year, Broadridge Financial Solutions Inc. renewed and expanded its lease at 2 Journal Square. Michael T. Cohen, president of FirstService Williams in New York City, along with Colton Brown, managing director at FSW in Parsippany, and David Pennetta of Oxford & Simpson Realty Inc. of Jericho, NY advised Long Island, NY-based Broadridge in the transaction.

Cohen declined to specify the financials of the deal, although he tells GlobeSt.com that a rent abatement period was given in the seven-year renewal. The new contract expands Broadridge’s office space by 25,000 square feet to a total of 320,282 square feet, giving it occupancy of the entire building. Located above the Journal Square PATH terminal, 2 Journal Sq. is owned in partnership by Hartz Mountain Industries, Panepinto Properties and Garden State Development.

“North Jersey, with more large blocks of space than Manhattan and much lower costs than Manhattan remains an excellent choice for a major office location because it has a comparable labor pool,” says Emanuel Stern, president and COO of Hartz Mountain Industries, in a statement.

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