For Immediate Release, contact:
Axiom Communications, Inc.
Catie Tupper or Ron Simoncini
HARTZ MOUNTAIN'S CLASS "A" GEM 15 EXCHANGE PLACE GLEAMS WITH ACTIVITY
JERSEY CITY, NJ - MAY 5, 2008 - Hartz Mountain Industries has completed over 80,000 sq. ft. in lease transactions during the past 12 months at 15 Exchange Place, the historic Jersey City waterfront office tower adjacent to the PATH station. Leases include: Merrill Lynch, which took 27,000 sq. ft. in two separate and complex transactions; Segal McCambridge, a national law firm opening its first New York City area office; Telmap, an Israeli software company; Vestmark, a California based software company; Private Mortgage Insurance (PMI) from Thousand Oaks, Ca.; Canadian Superior Energy from Calgary, Alberta, and Sungard, which expanded its existing office.
Hartz Mountain is offering the final available space, a 5,500-square-foot ground level retail space through its exclusive broker, Welco Realty. "For companies with a Jersey City requirement, 15 Exchange Place represents the only true opportunity to create a small or medium-sized presence in a premier waterfront building," said Emanuel Stern, President and COO of Hartz Mountain Industries.
Acquired by Hartz Mountain in 2003, 15 Exchange Place is the northerly neighbor to Hartz's 70 Hudson Street and 90 Hudson Street, the prime office towers at Colgate Center, which Hartz pioneered in the mid-1990s. The architecture of 15 Exchange Place, which remains the premier Jersey City waterfront office destination, was constructed in the early 1900s and inspired the Federal styling of 70 and 90 Hudson Street, creating the now familiar handsome trio of buildings with direct ferry and PATH train access to Wall Street and midtown.
William "Skip" Dolan of Dolan Realty spearheaded the repositioning and marketing of the asset while achieving market-leading rents for Hartz. "The location of the asset coupled with its smaller floor plate of 14,000 sq. ft. enabled Hartz along with its full range of professional services from space planning, architectural and construction, to achieve superior results. This is a tremendous assignment and organization to be associated with," said Dolan.
About Hartz Mountain Industries
Headquartered in Secaucus, NJ, Hartz Mountain Industries, Inc. owns and manages one of the largest privately held commercial real estate portfolios in the United States, comprised of approximately 200 properties and totaling more than 38 million sq. ft. in the northern New Jersey/New York area. Hartz employs a comprehensive approach to real estate that is facilitated by its full-scale in-house departments for leasing, management, finance, acquisition, architecture, construction, development, planning, and marketing, design and property management. By controlling the development process end-to-end, the company strives to remain at the forefront of commercial, industrial, retail and hotel development. Most recently, Hartz has been recognized by NJPA Real Estate Journal as the "Best Place to Work for 2006" and "Best Developer of 2004" and the Business News New Jersey (NJBIZ) as one of the best places to work in New Jersey for 2005 & 2006. For more information, visit their web site at www.hartzmountain.com.