Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.