DEALTRACKER
JERSEY CITY, NJ—Kushner Companies and The KABR Group acquired 26 Journal Square, a 16-story, 105,000-square foot commercial tower in the heart of Jersey City's growing Journal Square neighborhood. The property had been owned since 2006 by Knightsbridge Properties, which paid $15 million for the asset, according to Real Capital Analytics, a proprietary research firm. The price for the current sale could not be determined. The partnership intends to upgrade the building into a hub for creative firms. 26 Journal Square is the latest addition to the Kushner Cos./KABR Group partnership in Jersey City. The partnership is teaming up on mixed-use projects at 1 and 30 Journal Square, and two buildings in the Powerhouse Arts district: the planned 65 Bay Street luxury rental tower, and a mixed-use complex at 124-134 Bay Street. In all, the partnership has more than 4 million square feet under development in Jersey City.
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