Printer Friendly

Shipping company buys NJ waterfront building.

A Singapore-based shipping company has acquired the UJB/Commercial Trust landmark building in Jersey City, New Jersey, and will occupy the 10-story 110,000-square-foot waterfront office property on completion of a renovation, it was announced by Thomas V. Bermingham, executive director of the Edward S. Gordon Company of New Jersey.

Located at 15 Exchange Place, the building was purchased by Neptune Orient Line/Tricom Shipping Agency from the UJB Financial Co. The transaction was arranged by Edward S. Gordon Executive Director Robert J. Rudin, and brokers Dudley D. Ryan and S. Bleecker Totten.

They explained that the shipping company was attracted to the UJB Financial Building because it offered several amenities important to the buyer, including the fact that the Exchange Place building has waterfront rights and an unobstructed view of Upper New York Harbor and downtown New York City. In addition, it is across the street from the Exchange Place stop of the PATH subway line and, therefore, only minutes from New York.

The brokers also pointed out that the location provides the shipping company with ready access to the Jersey City as well as New York market and with a prestige address in the neighborhood of such major firms as Merrill Lynch, the Colgate Company and Nat West.
COPYRIGHT 1992 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Neptune Orient Line/Tricom Shipping Agency
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Apr 22, 1992
Previous Article:Benson signs 60,000 sf for communications giant.
Next Article:Mendik leases to State Dept.

Related Articles
Innocent-spouse relief can be granted as to Form 1045.
Backending estimated payments.
Proposed consolidated regulations pose trap for unwary.
Closed year NOL may be increased if carryover year is open.
New Jersey waterfront an attractive alternative.
Neptune Township approves 4 million SF Garden State Hi-Tech Park.
Shore thing.
Neptune Orient Lines (NOL).

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters