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NJCU signs new waterfront lease for School of Business

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NJCU President Sue Henderson says its business school
NJCU President Sue Henderson says its business school "is poised for terrific growth in the coming years." - ()

Apparently, when New Jersey City University President Sue Henderson told NJBIZ in the recent Interview Issue to “expect big things” from the university, she wasn't kidding. On Tuesday, the school announced the leasing of a property that will house the NJCU School of Business.

The university has just signed a 20-year lease on a 69,348-square-foot property at Jersey City’s Harborside Plaza 2, directly on the city’s waterfront. This puts the School of Business directly at the heart of the city’s financial district.

Henderson said the expansion will help the university accommodate the growing demands for its business program.

RELATED: The transformer: Henderson is changing the culture and the campus at NJCU

“NJCU’s business school is poised for terrific growth in the coming years,” she said in a news release. “With our new school at Harborside, we will be able to meet the enrollment demand we see from our students and the need for a qualified workforce from our corporate partners.”

The 20-year lease allows the school to get in on Jersey City’s expansion early. The city is currently slated to be the largest in the state by 2020.

Mack-Cali Realty Corporation owns the site, as well as the Harborside Plaza 4A building where NJCU is currently a tenant.

“We’re delighted that NJCU has decided to house their successful business program here at Harborside,” Mitchell E. Hersh, Mack-Cali’s CEO and president, said in a prepared statement. “Their expanded presence on the waterfront will provide our office tenants and residents with a valuable amenity which will be a great asset and inducement for talent recruitment. This is a true win-win for the Jersey City community as well, and we’re thrilled to be a part of it.”

Bob Antonicello of Grid Real Estate LLC and Anthony V. Bastardi of Strategic Development Group represented NJCU. CBRE’s Mark Ravesloot, David Opper, Peter Turchin and Lee Cross represented Mack-Cali.

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