{"id":1004484361,"date":"2020-10-13T03:27:08","date_gmt":"2020-10-13T11:27:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004484361"},"modified":"2020-10-13T03:28:05","modified_gmt":"2020-10-13T11:28:05","slug":"new-team-to-reposition-new-jerseys-4-3-msf-harborside","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/new-team-to-reposition-new-jerseys-4-3-msf-harborside\/","title":{"rendered":"New Team to Reposition New Jersey’s 4.3 MSF Harborside"},"content":{"rendered":"
\"\"<\/a>

Harborside. Image courtesy of Mack-Cali Realty Corp.<\/em><\/p><\/div>\n

Mack-Cali Realty Corp. has put together a new team to orchestrate a transformation at Harborside, its mixed-use office campus in Jersey City, N.J. The group of professionals, consisting of newly hired experts and internal leaders, will facilitate the repositioning, leasing and marketing of the 4.3 million-square-foot property along the Hudson River.<\/p>\n

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READ ALSO<\/strong>: Transwestern Kicks Off $50M New York City-Area Project<\/a><\/p>\n

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During the company’s second quarter 2020 earnings conference call on August 3, MaryAnne Gilmartin, board chair & interim CEO<\/a> at Mack-Cali Realty Corp., said, “There’s a feeling that the lease-up strategy on the Waterfront is critical and that we are going to be focused on wins there in the coming months.” And now a newly assembled group is born to take on Harborside’s evolution and achieve those wins.<\/p>\n

Edward Guiltinan, formerly of Rockefeller Group, has joined Mack-Cali as senior vice president, bringing to the table three decades of commercial real estate leasing experience. Robert Willis, a 25-year industry veteran and recent hire from HEI Hotels and Resorts, is spearheading the completion of key renovation projects at Harborside in his role as senior vice president, construction. Mack-Cali has also brought in a new leasing team with Mark Ravesloot of CBRE in place to head-up a group that includes CBRE’s Peter Turchin, Jeffrey Babikian, Robert Norton and Brett Shannon. Additionally, CBRE’s Mary Ann Tighe, CEO of the New York Tri-State Region, will consult on the overall project and provide further support in the form of strategic oversight.<\/p>\n

Harborside is a multi-structure campus that encompasses modern towers as well as adaptive re-use buildings like Harborside 2 and 3, which were originally developed in the 1920s. In addition to Class A office space, the property features retail and dining offerings, fitness and wellness facilities and a daycare center. And there’s more to come as part of a comprehensive, multi-phase improvement plan, including a 1.2 million-square-foot expansion.<\/p>\n

Changing with the market<\/strong><\/h2>\n

The Harborside team is tasked with fulfilling Harborside’s transformation and attracting new tenants in the return-to-the-workplace climate, where the new normal requires new accommodations. “We’re seeing a movement toward decentralization and de-densification. Companies that are close in the urban core of Manhattan are looking at strategies even post-vaccine to decentralize, and I think that bodes well for the Waterfront,” Gilmartin said during the earnings call.<\/p>\n

New Jersey recorded approximately 650,000 square feet of negative absorption in the third quarter of 2020, while the Waterfront submarket saw quarter-over-quarter improvement and logged nearly 90,000 square feet of positive net absorption, according to a report by CBRE. Additionally, the Waterfront submarket accounted for more than 44 percent of the office leasing velocity in the State of New Jersey in the third quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mack-Cali Realty Corp. has assembled a group of industry experts from inside and beyond its walls to complete the transformation of the mixed-use office campus along Jersey City’s waterfront. <\/p>\n","protected":false},"author":969,"featured_media":1004484364,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,21808,21752,1600,21742,10],"tags":[32789,33554,38879],"class_list":["post-1004484361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-featured","category-mixed-use","category-new-york","category-latest","category-northeast","tag-cbre","tag-mack-cali-realty-corporation","tag-maryanne-gilmartin"],"acf":[],"yoast_head":"\nNew Team to Reposition New Jersey's 4.3 MSF Harborside - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/new-team-to-reposition-new-jerseys-4-3-msf-harborside\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Team to Reposition New Jersey's 4.3 MSF Harborside\" \/>\n<meta property=\"og:description\" content=\"Mack-Cali Realty Corp. has assembled a group of industry experts from inside and beyond its walls to complete the transformation of the mixed-use office campus along Jersey City's waterfront.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/new-team-to-reposition-new-jerseys-4-3-msf-harborside\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-13T11:27:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-13T11:28:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/Harborside-Jersey-City-N.J..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/new-team-to-reposition-new-jerseys-4-3-msf-harborside\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/new-team-to-reposition-new-jerseys-4-3-msf-harborside\/\",\"name\":\"New Team to Reposition New Jersey's 4.3 MSF Harborside - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/new-team-to-reposition-new-jerseys-4-3-msf-harborside\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/new-team-to-reposition-new-jerseys-4-3-msf-harborside\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/Harborside-Jersey-City-N.J..jpg\",\"datePublished\":\"2020-10-13T11:27:08+00:00\",\"dateModified\":\"2020-10-13T11:28:05+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/new-team-to-reposition-new-jerseys-4-3-msf-harborside\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/new-team-to-reposition-new-jerseys-4-3-msf-harborside\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/new-team-to-reposition-new-jerseys-4-3-msf-harborside\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/Harborside-Jersey-City-N.J..jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/Harborside-Jersey-City-N.J..jpg\",\"width\":800,\"height\":620,\"caption\":\"Harborside. 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