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JERSEY CITY, NJ-National Union Fire Insurance Co., based in Pittsburgh, has signed a lease for a total of just under 174,000 sf of office space at the landmark 101 Hudson St. here. The building’s newest tenant is a member company of the American International Group Inc.

The deal started out as a potential sublease with the original lessee of the space, Lehman Brothers. The negotiations leading up to the eventual signing ended up as a direct lease with the owner of the 42-story asset, the Berwyn, PA-based LCOR Inc. The terms of the transaction were not disclosed. The insurer will use the space as a major regional office, according to a company spokesperson.

The New York and New Jersey offices of CB Richard Ellis negotiated for both tenant sides in the transaction. Representing AIG on behalf of its National Union Fire unit were the firm’s Lewis Miller, Andrew Sussman, John Powers and Sam Buckley. Acting for Lehman Brothers were Robert Alexander, Michael Geoghegan, Carl Eriksen, Craig Eisenhardt and Gregory Knoop. LCOR was represented in-house.

When it was built back in 1992, 101 Hudson St. was the tallest building in New Jersey–it has since been surpassed by the neighboring 30 Hudson St. Located a block from the Hudson River waterfront in the southern end of New Jersey’s second largest city, it contains a total of 1.5 million sf of class A office space. The asset’s amenities include 1,000 indoor parking space, and retail and restaurant space on the building’s ground floor.

Other major tenants at 101 Hudson St. include Merrill Lynch & Co., which occupies a total of 600,000 sf, and Deloitte & Touche. The building was built as the first phase of the redevelopment of the 42-acre Colgate site, which that company had for decades used for manufacturing purposes. The site has since been built out with a variety of mixed uses.

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