Veris Residential has sold the last office property at its massive Harborside development in Jersey City, completing the company's strategic transition into a pure-play multifamily REIT.
Veris is in contract to sell Harborside 5, a 977K SF office tower at 185 Hudson Street in Jersey City, to 601W Cos. for $85M. According to the REIT's Q4 earnings statement, the building is 35% leased.
Last April, Veris sold Harborside 1, 2 and 3, encompassing 1.9M SF at the Hudson Street complex known as Harborside Financial Center, to NY-based 601W for $420M.
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