Jersey City, NJ – Cushman & Wakefield announced today that the real estate services firm has arranged three new long-term leases and one lease renewal totaling 62,131 square feet at 3 Second Street, a 600,000-square-foot Class A office tower in Jersey City.
Hyundai Motor America (“Hyundai”) signed a 12,580-square-foot lease on the 5th floor. Eikon Therapeutics signed a 36,284-square-foot lease on the 4th floor. Bank of Montreal renewed its 10,365-square-foot lease on the 12th floor. Arco Design/Build signed a 2,902-square-foot lease on the 8th floor.
Amenity Lounge
Features a variety of seating options and a mini market
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Conference Center
Town hall, conference room and training space for tenants
Cushman & Wakefield’s David DeMatteis, Robert Rudin, Mina Shehata and Dirk Hrobsky represented the landlord, funds managed by Ares Management, in the transactions. William O’Keefe, Raymond Trevisan and Don Yahn, also of Cushman & Wakefield, represented Hyundai.
“We are thrilled to welcome new tenants and to expand relationships with existing ones to enhance 3 Second Street’s impressive tenant roster,” said DeMatteis. “These leases are further evidence that the best located, highly amenitized buildings attract tenants. The Ares Management Real Estate Group has provided a hands-on approach to ownership and is constantly reinvesting in this asset with hospitality-focused upgrades, including a new, thoughtfully designed tenant sky lounge that is currently underway.”
3 Second Street is an 18-story, 600,000-square foot Class A office tower. Floors feature four sides of glass that provide panoramic waterfront views of New York City. Additionally, the property features a redesigned lobby with concierge services, new tenant lounge and on-site dining options.
Construction has begun on The Hudson Collaborative, an exclusive, thoughtfully designed tenant sky lounge. The amenity space is carefully crafted to provide tenants with the ideal setting for whatever the workday demands: from stylish lounge areas that encourage impromptu brainstorming sessions to cozy nooks for solitary focus.
“Creating inspirational spaces to serve as an extension of tenants’ offices are a key driver in leasing velocity throughout our office portfolio,” said Brian Lindenberg, Principal in Ares Real Estate. “Providing a variety of work areas and activating these spaces throughout the month with the right programming and services fuel the tenant experience and encourage more people to utilize their office buildings to get work done.”
“Along with featuring an extensive amenity package, including one of New Jersey’s top ranked restaurants Ondo, 3 Second Street boasts unobstructed water-front views of the Hudson River, destination restaurants, curated events and unparalleled access to the Hudson River Walkway,” added Shehata.
“ARCO Design/Build is pleased to be in the Jersey City community and more closely supporting real estate and construction in the five boroughs of New York City and Northern New Jersey,” said Bill Martorana, Senior Design/Build Manager at ARCO Design/Build.
The property is located minutes from Lower Manhattan and is easily accessed by multiple public transportation options. The property is located just seven minutes from the World Trade Center on the PATH train to New York City and offers convenient access to NY Penn Stations, the Holland Tunnel, Newark Liberty International Airport and Hoboken Terminal via NJ Transit trains and buses, NY Waterway Ferries and Amtrak.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2023, Ares Management Corporation's global platform had approximately $395 billion of assets under management, with approximately 2,800 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.