Newport Office Center IV, Jersey City, NJ Newport Office Center IV, Jersey City, NJ

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JERSEY CITY, NJ—Norfolk, VA-based Harbor Group International has acquired the22-story 861,000-square-foot office building at 545 WashingtonBlvd. here for $372 million, according to multiple reports.

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The property known as Newport Office Center IV was sold by theLefrak Organization. Morgan Stanley led theacquisition financing for the office tower, according to theCommercial Observer, which also noted that Barclays alsoparticipating in the financing of the property.

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Adam Spies, Doug Harmon, Kevin Donner, Gary Gabriel and DavidBernhaut of Cushman & Wakefield represented LeFrak in the sale,while Gideon Gil, Chris Moyer, John Alascio, Emily Johansen andNoble Carpenter III of C&W arranged the acquisitionfinancing.

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The property, which opened in 2001, houses the international ISOheadquarters. Other tenants include financial services firms KnightSecurities, HSBC and Automated Sungard.

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The property is nearly fully leased.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.