Financial Services Firm E*Trade Signs Long-Term Lease at Harborside Financial Center

Strategic Insights -

E*Trade Financial Corporation, a leading financial services provider, has signed a new lease for 106,573 square feet at Harborside Financial Center in Jersey City, New Jersey. This long-term commitment, with a term of 15 years and seven months, solidifies E*Trade's presence as a premier tenant at the 100% leased Harborside Plaza 2, a 761,200 square-foot class A office building. The lease is a testament to Mack-Cali Realty Corporation's ability to build strong relationships with its tenants and enhance the long-term value of its premier waterfront complex.

Key Takeaways:

  • E*Trade Financial Corporation has signed a new lease for 106,573 square feet at Harborside Financial Center, a 15-year and 7-month commitment.
  • The lease is for space at Harborside Plaza 2, a 761,200 square-foot class A office building, which is 100% leased.
  • E*Trade had been subleasing 37,970 square feet at the building, indicating their expansion at the site.
  • Mitchell E. Hersh, president and CEO of Mack-Cali Realty Corporation, expressed delight at E*Trade's long-term commitment and the benefits it brings to the property.
  • The lease was represented by Mark Ravesloot, Robert Stillman, Douglas Lehman, and Scott Sloves of CB Richard Ellis for the tenant, while Mack-Cali was represented in-house by Thomas Savoca, director of leasing.

Statistics:

  • 106,573 square feet: the area leased by E*Trade Financial Corporation at Harborside Financial Center.
  • 15 years and 7 months: the term of the lease agreement.
  • 761,200 square feet: the total area of Harborside Plaza 2, a class A office building.
  • 100%: the occupancy rate of Harborside Plaza 2.
  • 2,500: the approximate number of tenants in Mack-Cali's portfolio.
  • 34.3 million square feet: the approximate total square footage of Mack-Cali's office and office/flex properties.

Sources:

  • "Mack-Cali Realty Corporation Signs Long-Term Lease with E*Trade Financial Corporation," Mack-Cali Realty Corporation press release, n.d.
  • "E*Trade Signs at Harborside," Commercial Property Executive, n.d.
  • "E*Trade Inks Lease at Harborside Plaza 2," Jersey City Reporter, n.d.
  • Mack-Cali Realty Corporation Annual Report on Form 10-K, 2022.