JERSEY CITY, NJ—The KABR Group and Kushner Companies have purchased the iconic 124-134 Bay Street, known as Warren at Bay, located in the Powerhouse Arts District of Jersey City, just blocks from the waterfront and the Grove Street PATH transit station.
“We are thrilled with the reaction from tenants looking for a very special retail and office that goes beyond cookie cutter space and is so close to the many destinations desired by today's discerning consumer,” says Adam Altman, managing member of The KABR Group.
“With its convenient access to Manhattan and vibrant mix of shops and restaurants, top national retailers and innovative new companies are looking toward Jersey City as a place to do business,” says Jared Kushner, CEO of Kushner Companies. “We're excited to expand our Jersey City portfolio with this iconic space.”
The 101,000 square-foot property includes two former mixed-use buildings currently used as artist galleries and creative office and production space.
The Powerhouse Arts District includes a variety of top-tier restaurants, gourmet coffee shops, art galleries and notable boutique shops and has become a popular destination for innovative entrepreneurs and restaurateurs, due in part to its immediate access to the Grove Street PATH train and quick access to Manhattan. The property will feature individualized work environments designed for technology, advertising, media and information technology (TAMI) tenants.
KABR and Kushner's concept for the buildings will honor the context of the community and will preserve the charm of the neighborhood's history. The property is the site of the former A&P auxiliary warehouse built in 1914 and 1915 and is a two-minute walk to the Hudson River waterfront, offering a spectacular panorama of the New York skyline and Statue of Liberty.
The new KABR/Kushner property represents a continuing successful collaboration of two partners dedicated to Jersey City. Warren at Bay is one block from the new development – Trump Bay Street – a magnificent 50-story luxury rental tower that offers spectacular views of the New York City skyline and is just minutes from downtown/midtown New York via the PATH and ferry.
The KABR Group and Kushner Companies have already retained a leasing broker and construction team to begin predevelopment and leasing strategies. BlueGate Partners' team, led by Mark DeLillo and Jeff Bastow, arranged the transaction on behalf of the seller.
Correction, 3/1/2016: An earlier version of this story omitted mention of the BlueGate Partners team.
JERSEY CITY, NJ—The KABR Group and Kushner Companies have purchased the iconic 124-134 Bay Street, known as Warren at Bay, located in the Powerhouse Arts District of Jersey City, just blocks from the waterfront and the Grove Street PATH transit station.
“We are thrilled with the reaction from tenants looking for a very special retail and office that goes beyond cookie cutter space and is so close to the many destinations desired by today's discerning consumer,” says Adam Altman, managing member of The KABR Group.
“With its convenient access to Manhattan and vibrant mix of shops and restaurants, top national retailers and innovative new companies are looking toward Jersey City as a place to do business,” says Jared Kushner, CEO of Kushner Companies. “We're excited to expand our Jersey City portfolio with this iconic space.”
The 101,000 square-foot property includes two former mixed-use buildings currently used as artist galleries and creative office and production space.
The Powerhouse Arts District includes a variety of top-tier restaurants, gourmet coffee shops, art galleries and notable boutique shops and has become a popular destination for innovative entrepreneurs and restaurateurs, due in part to its immediate access to the Grove Street PATH train and quick access to Manhattan. The property will feature individualized work environments designed for technology, advertising, media and information technology (TAMI) tenants.
KABR and Kushner's concept for the buildings will honor the context of the community and will preserve the charm of the neighborhood's history. The property is the site of the former A&P auxiliary warehouse built in 1914 and 1915 and is a two-minute walk to the Hudson River waterfront, offering a spectacular panorama of the
The new KABR/Kushner property represents a continuing successful collaboration of two partners dedicated to Jersey City. Warren at Bay is one block from the new development – Trump Bay Street – a magnificent 50-story luxury rental tower that offers spectacular views of the
The KABR Group and Kushner Companies have already retained a leasing broker and construction team to begin predevelopment and leasing strategies. BlueGate Partners' team, led by Mark DeLillo and Jeff Bastow, arranged the transaction on behalf of the seller.
Correction, 3/1/2016: An earlier version of this story omitted mention of the BlueGate Partners team.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
