JERSEY CITY-Financial services giant Lehman Brothers has picked up another big block of space here, signing a lease for more than 71,500 sf at Mack-Cali Realty Corp.’s 101 Hudson St. office tower. The lease, which is set to expire on Jan. 31, 2018, consists of a 10-year expansion of 62,763 sf along with a seven-year renewal of 8,741 sf. With the latest deal, Lehman Brothers now has taken a total of 270,063 sf in the 42-story, 1.2-million-sf tower, which sits on this city’s Hudson River waterfront opposite Lower Manhattan.

“This transaction is in line with our strategy of building successful, long-term tenant relationships,” says Mitchell E. Hersh, president and CEO of the Edison-based Mack-Cali, in a statement. “It also demonstrates the Jersey City waterfront’s appeal to companies such as Lehman Brothers.”

CB Richard Ellis of New York’s chairman Robert Alexander, vice chairman Michael Geoghegan and FVP Andrew Sussman represented the tenant on the lease. Christopher DeLorenzo, in-house VP of leasing, and senior director of leasing Thomas Savoca represented Mack-Cali. Terms of the deal were not released; asking price for available space in the building is currently listed on Mack-Cali’s website as “negotiable.”

With the signing, the landmark tower is now just less than 92% leased. As reported by GlobeSt.com, Mack-Cali bought the asset in early 2005 from a partnership headed by LCOR for $329 million, which factors out to approximately $275 per sf. Since then, major leases have been signed with PricewaterhouseCoopers, AIG subsidiary National Union Fire Insurance and Franklin Credit, the latter being a sublet.

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