JERSEY CITY, NJ-A week after announcing it was relocating operations out of Greenwich Village, Forbes announced it will be leasing 93,000 square feet at the LeFrak Organization's 499 Washington Blvd. building in the Newport complex here.
The publisher will occupy the space for at least 10 years under terms of its lease, according to NJBiz. LeFrak Organization officials announced details of the Forbes lease deal on Thursday. Forbes' move to the Garden State has earned it a $27 million Grow New Jersey tax credit that will net New Jersey 350 new jobs.
Forbes will occupy the entire ninth and 10th floors of 499 Washington Blvd., a 14-story, 600,000-square-foot tower built by LeFrak in 2000 and is expected to take occupancy of its new headquarters space by the end of the year.
Marylou Berk, senior vice president and head of commercial real estate at LeFrak, and Charles Borrok, executive vice chairman of Cushman & Wakefield, represented LeFrak in lease negotiations. See story in NJBiz.
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