S hopping C enters N ew J ersey /P ennsylvania
M id A tlantic Real Estate Journal — New Jersey/Pennsylvania — Section B
www.marej.com
Designed by the award-winning Dutch design firm, Concrete Journal Square Urby Tower reaches topping out at 25 stories, set to redefine Jersey City Living
ERSEY CITY, NJ — Jour- nal Square Urby, the new residential tower rising across from the Journal Square PATH Station in Jer- sey City, has reached its top- ping out point at 265 feet. The final beam is in place, the project’s visionary devel- oper Urby announced, mark- ing the completion of vertical construction for the 25-story building located at the corner of Pavonia and Summit Aves. With 317 brand new apart- ments and innovative social spaces slated for the property J
in the Spring of 2024, Journal Square Urby will deliver a va- riety of smartly-designed resi- dences to the market – which include studio, one-, two- and three-bedroom apartments. Planned amenities include an integrated café in the lobby, a huge state-of-the-art gym complete with an attached yoga studio and stretching area, and a suite of indoor and outdoor features on the 25th floor, such as work from home spaces, a roof garden, pool, BBQ areas, and a dog park with panoramic views. The rooftop and many of the residences will offer sweep- ing views of downtown Jersey City, the Manhattan skyline, the Statue of Liberty, and the Verrazano-Narrows Bridge. “We are excited to share the construction progress at Journal Square Urby and look forward to opening our second Urby location in Jersey City,” said David Barry , founder and CEO of Urby . “Journal Square Urby will offer the unique shared spaces and in- spired design that define the
Urby brand, while also creating an intimate boutique environ- ment for residents to con- nect with one another and the culturally-rich neighborhood.” Designed by Concrete , the award-winning Dutch design firm responsible for citizenM Hotels around the world, with HLW serving as Executive Ar- chitect, Journal Square Urby will feature a design and layout that complements the existing neighborhood scale at the street level while providing a visually- dynamic tower that breaks out into three distinct masses. Outdoor spaces will be designed by internationally renowned landscape architect Bureau Bas Smets, which was recently awarded the commission for the grounds of the legendary Notre- Dame Cathedral in Paris. Urby has commissioned a significant mural on the side of the building by contempo- rary artist Felipe Pantone, an Argentinian-Spanish artist whose work deals with dyna- mism, transformation, digital revolution, and themes related to the present times. MAREJ
SEPTEMBER 2023
HI-LIGHTS
Journal Square Urby
– including a roof garden with a pool, work from home spaces, and uninterrupted views of the Manhattan skyline – the topping out is a key milestone for the burgeoning Journal Square neighborhood as well as the Urby brand. Journal
Square Urby will be the sev- enth Urby location to open nationwide and the second in Jersey City, following the 2017 debut of a 69-story property in the city’s Harborside water- front neighborhood. Expected to be completed
SPOTLIGHT
Northern New Jersey
5-6B
NAI James E. Hanson negotiates sale of Teterboro, NJ ind. building to Prologis
JLL Capital Markets inks $24.7 Million sale of three-building industrial portfolio in Philadelphia
existing and active construc- tion, along this corridor across 2,647 buildings. The JLL Capital Markets team was led by John Plow - er and Ryan Cottone , along with their partners on the industrial brokerage team, Larry Maister and Kyle Lockard . “These properties were well received in the market due to their irreplaceable location, stable cash flow and good ten - ant mix. We saw very strong interest during the marketing process and were pleased with the outcome,” said Plower. JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solu- tions for clients. MAREJ
PHILADELPHIA, PA — JLL Capital Markets an- nounced that it arranged the $24.7 million sale of the Phila- delphia Airport infill indus - trial portfolio totaling 122,373 s/f in Philadelphia. JLL represented the seller, Alliance HP , a Bryn Mawr, PA based real estate invest- ment firm focused on small and medium sized, value- add industrial investments in Greater Philadelphia and South Florida. Campbell Rocco Law represented Alli- ance on the transaction. The Philadelphia Infill In- dustrial Portfolio consists of three properties located at 3250 78th St., 3201 South 76th St. and 3440 Bartram Ave., and are fully leased to three ten- ants. Key features across the portfolio include clear heights between 17 and 22 feet, 14
6B
Walters Scholarships Awarded to four graduating seniors
Philadelphia Airport infill industrial portfolio
loading doors, five drive-in doors and 163 parking spaces. The assets are located within a 2.5-mile radius of the Philadel- phia International Airport and within a 15-minute drive from the PhilaPort. The Philadelphia I-95 Cor- ridor stretches from Trenton, NJ south towards New Castle County, DE. This corridor
is one of the strongest per- forming industrial markets in the U.S. and serves as the mid-point between NYC and Washington DC, offer- ing best-in-class connectivity to some of the most concen- trated population centers in the country. JLL’s research team tracks over 336.5M s/f of industrial product, both
12B
ALSO INSIDE
www.marej.com CREW NJ Chapter............. 8B Pennsylvania................9-BC-B People on the Move.............12B
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