JERSEY CITY-Tower Insurance Co. of New York has signed a long-term lease for 76,892 square feet at Mack-Cali’s Harborside Financial Center in downtown Jersey City.
The property and casualty insurance provider will occupy space at the Plaza 2 building, one of the original Pennsylvania Railroad structures first converted in the 1980s to form the core of Harborside Financial Center. There are now five buildings comprising 3.1 million square feet at the complex. Construction of a 500-unit residential tower is expected to begin next year.
Harborside Financial is set within walking distance of a PATH train station and commuter ferry stop, and includes restaurants, retail, hotel, office and residential amenities such as health clubs and child care. The complex is now 97.3% leased, Mitchell E. Hersh, Mack-Cali president and CEO, says in a release.
In its lease deal, Tower Insurance was represented by Mark Ravesloot, Scott Sloves, and David Opper, all of CBRE. The term of the lease is 10 years, 11 months.
Tower Insurance provides products and service targeted to mercantile and service industries, restaurants, automotive companies, construction and real estate. The company’s personal lines include homeowners, dwelling, fire, and three- and four-family building policies.
Tower has branch offices in Manhattan as well as the Long Island community of Melville, NY, the Buffalo suburb of Amherst, NY and Quincy, MA. New Jersey business has previously been served by the Manhattan branch.
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