Kushner Companies and The KABR Group have announced their purchase of a commercial tower at 26 Journal Square.
The 16-story building is located immediately next to 30 Journal Square where the companies are planning a 72-story, 741-unit mixed use tower. The firms have been attracted to Journal Square for some time for its immediate access to transportation. “There’s tremendous upside in the Journal Square area and this purchase continues our push to create a vibrant, mixed-use district,” said Laurent Morali, President of Kushner Cos.
In the announcement, the firms stated they plan to turn the building into “a hub for creative firms.”
“26 Journal Square provides a great opportunity for creative tenants looking for a transit-friendly home in one of the region’s most cutting-edge office and residential locations,” said Morali.
The partnership between the two companies continues to expand their Jersey City holdings. Currently, they have 4 million square feet under development and are showing no signs of slowing down.
Financial details of the transaction were not disclosed.
[gmap height=”250px”]26 journal square jersey city nj 07306[/gmap]
26 Journal Square, Jersey City, NJ 07306