"We signed a new 15-year lease with AXA Equitable Life Insurancefor 245,000 sf at Newport Tower in Jersey City," a spokesperson forthe New York City-based Brookfield tells GlobeSt.com. "It bringsthat building's occupancy to 98.5%. We acquired the building inOctober 2006 with the Trizec acquisition."

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Reports say Scott Panzer, Deborah Vanderheyden and Steve Rotterof Newmark Knight Frank represented AXA. A request for commentbrought a confirmation of the deal but a referral to an AXAspokesman, who did not respond by deadline. Brookfield wasrepresented by Ed Duenas of Cushman & Wakefield's EastRutherford office, and Kevin Daly of that firm's Midtown Manhattanoffice. The brokers declined to comment.

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The New York City-based law firm Loeb & Loeb issued astatement, "Raymond A. Sanseverino, chair of the firm's real estatedepartment, and associate Dana A. Rosenthal represented Loeb &Loeb client Brookfield Properties in its lease…in Newport Tower…toAXA Equitable Life Insurance Co. Sanseverino has handled BrookfieldProperties' leasing work for more than 10 years."

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On the legal side, AXA was represented by the New YorkCity-based Stroock & Stroock & Lavan, the statement says.Other than the 15-year term of the lease, further details were notdisclosed. The space had been listed with an asking price of $40per sf, and sources say the final number is in the $35-to-$40range. Sources also say that the aggregate value of the transactionis in the $135-million to $140-million range.

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Built between 1990 and 1992, the 37-story Newport Tower totalsjust more than one million sf with 24,000-sf floorplates, situatednear this city's Hudson River waterfront. According to reports, AXAEquitable will move as many as 850 staffers across the river fromthe company's New York City headquarters on Sixth Avenue by nextyear.

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