"We have worked with The Bank of Tokyo-Mitsubishi and other banks for a number of years, and it is exciting that they have continued to expand their presence in Jersey City," said Curtis Foster, executive vice president of Cushman & Wakefield, Inc., East Rutherford, N.J., who teamed with Fred Smith of the firm's Midtown New York office to represent the tenant. "In general, financial services continue to find Jersey City, with its close proximity to Lower Manhattan, a highly attractive alternative for their operations.
"The fact that The Bank of Tokyo-Mitsubishi, one of the largest multi-national banks in the world, continues to expand its commitment to Jersey City, speaks volumes for the market's vitality," said Foster.
"This transaction was a complicated one, because it involved expansion by The Bank of Tokyo-Mitsubishi in both New York and New Jersey," said Smith. "With our experience and our long-term relationship with the bank, we were well-prepared to complete this transaction for the benefit of everyone involved."
Harborside Plaza 3 is part of Mack-Cali Realty Corp.'s 3.1 million-square-