Property
One Journal Square
Location
Jersey City, NJ
Size
880 Units
Value
$27M
Type
Sale

One Journal Square

BlueGate Partners, LLC was retained on an exclusive basis by Bentall Kennedy LP on behalf of its institutional client to secure a qualified development partner who was willing to co-invest in the development of a 2.08 acre site that is adjacent to the Journal Square PATH station in Jersey City, New Jersey. One Journal Square was approved for the development of up to 1.63 million square feet for uses including, but not limited to, 880 residential units, hospitality, retail office and parking.

Located two miles from the Hudson River and three miles from lower Manhattan, Journal Square offers incredible access via public transportation to the major employment centers in the New York City-Northern New Jersey metropolitan area.

At its core is the Journal Square Transportation Center (“JSTC”) which houses the Journal Square PATH station and the City’s largest bus terminal. The Journal Square Transportation Center is a multi-mode transportation hub that is owned and operated by the Port Authority of New York and New Jersey. The PATH Station serves as the terminus of the Journal Square-33rd Street line and links Journal Square to lower Manhattan via the Newark-World Trade Center line. It is estimated that 8.3 million riders will use the Journal Square PATH station in 2012.