JLL has completed the $94.5 million sale of 95 Greene Street, a 337,888-square-foot commercial building in Jersey City, N.J.

JLL’s Daniel Loughlin, vice chairman; Jose Cruz, senior managing director and co-head of Capital Markets in New Jersey; John Cunningham, executive vice president and co-chair of firm’s Life Sciences Advisory; Blake Goodman, executive vice president; and John Cahill, senior vice president, represented the seller in the sale of the asset to Thor Equities Group, a New York City based real estate leader with a growing life sciences portfolio. Thor Equities Group has selected JLL to continue serving as the exclusive leasing agent at 95 Greene Street.

“Thor Equities is a diverse real estate firm with a dedicated life sciences investment platform,” said Loughlin. “It is committed to a multimillion-dollar capital investment program repositioning the building to a ‘lab ready’ condition enabling expedited delivery of tenant lab improvements and speed to market. More importantly, the property is uniquely entitled for R&D and specialty uses. The building’s legacy manufacturing infrastructure provides a highly capable environment for all types of research functions.”

“Many businesses in New York do not realize that 95 Greene Street is easier to get to then most of New York City’s current life science offerings,” added Cahill.

"95 Greene Street caters to the needs of life science firms to recruit scientific and engineering talent in Manhattan and New Jersey, and collaboration with the higher education and medical communities,” said Goodman. “Similar to office sector trends, we see life science firms migrating to urban environments to attract talent.”

95 Greene Street served as a primary manufacturing facility for Colgate Palmolive until 1987 and was later converted into a Class A office building that was occupied by Merrill Lynch for many years.

Located at the intersection of Greene and York streets, 95 Greene Street is in the heart of Jersey City’s Paulus Hook neighborhood with views of the Statue of Liberty and Hudson waterfront. The property is a short walk from the Exchange Place PATH Station, NY Waterway Ferry and the new Hudson-Bergen Light Rail system.

In addition to access to public transportation and a highly skilled labor force, the building has numerous features essential for life science, healthcare and technology tenants including upgraded and high-volume HVAC, utilities, floor loads, loading docks, onsite parking and ceiling heights.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.