Home Featured Columbia Property Trust Secures Long-term Anchor Lease Renewal

Columbia Property Trust Secures Long-term Anchor Lease Renewal

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Columbia Property Trust Inc. has renewed its lease with Pershing LLC, a wholly owned subsidiary of The Bank of New York Mellon, for approximately 400,000 square feet at 95 Columbus, a fully leased, 630,000-square-foot, Class-A office tower in Jersey City. Pershing, which has been assigned an A+/A-1 credit rating by S&P Global Ratings, will retain its global headquarters at the building to June 2037.

In the year ahead, Columbia plans to commence strategic enhancements to the building’s lobby and other common areas, to ensure the building is well aligned with the momentum in Jersey City’s amenity-rich Grove Street corridor and capitalize on its connection to Manhattan. As Jersey City’s only Class-A building with direct transit access to Midtown and Downtown, 95 Columbus offers unparalleled transit access in the submarket, as well as easy access to all points across New Jersey via train, car or bus.

“Our relationship with Pershing is one of the longest and most well established in our portfolio, and we are very pleased that they have extended their long-term commitment at 95 Columbus,” said Nelson Mills, CEO of Columbia. “Building upon our strong track record of successful repositioning projects in the New York area, we will ensure that this stalwart tower remains among the best office properties in Jersey City, well-equipped to support ongoing leasing at attractive rates.”