OFFICE SPACE FOR LEASE IN JERSEY CITY FLOOR SF AVAILABLE

DAVID DEMATTEIS MARC J. TREVISAN T 201.460.3383 T 201.508.5217 E david.dematteis@cushwake.com E marc.trevisan@cushwake.com

CONTACT EXCLUSIVE AGENTMINA SHEHATA T 201..460.3364 E mina.shehata@cushwake.com

$ 20 MILLION RENOVATION PROGRAM ACCESSIBLE & CONVENIENT

• 1,871 SF to 40,000 SF of contiguous available blocks

• New, 3,570 SF ground floor retail space• Boutique office space in the heart of Jersey

City’s waterfront• Magnificent views of the Manhattan skyline• New, double-height lobby with glass walls• New windows

MAKE THE MOVE

E 15th Floor 23,010

E 14th Floor 23,010

P 11th Floor 2,577

P 9th Floor 1,457

P 8th Floor 3,925

P 6th Floor 1,578

P 6th Floor 1,732

E 5th Floor 21,039

P 2nd Floor 3,925

P 2nd Floor 1,650

P 2nd Floor 2,091

The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s client and the property offered by Cushman & Wakefield, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of Cushman & Wakefield’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.)

OFFICE SPACE FOR LEASE IN JERSEY CITY

LOCAL AMENITIES

• Direct access to Exchange Place PATH station and Light Rail

• Minutes from Newark International Airport

• Local restaurants, retail, banks and fitness

• Local and state tax incentives available

• New cooling/heating plant and switch gear

• New windows throughout building and refinished facade

• New double height main lobby• New tenant corridors and bathrooms• New retail units• Multiple zones of HVAC per floor via

new digital building management system

• 1600 amp/480 volt generator for tenant use

UNPRECEDENTED BUILDING-WIDE RENOVATION

GROW NJ INCENTIVE PROGRAM

UPGRADES

New tenants are eligible for credits between $28-$40 PSF per year, over 10 years

TYPICAL FLOOR PLAN

DAVID DEMATTEIS MARC J. TREVISAN T 201.460.3383 T 201.508.5217 E david.dematteis@cushwake.com E marc.trevisan@cushwake.com

CONTACT EXCLUSIVE AGENTMINA SHEHATA T 201..460.3364 E mina.shehata@cushwake.com

The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s client and the property offered by Cushman & Wakefield, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of Cushman & Wakefield’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.)

30 MONTGOMERY | Suite 1500 - Floor 15 - Marketing Plan 2014.11.24

FLOOR PLAN KEY PLAN

1500

Grow New Jersey Assistance Program

Basic Overview

The Grow New Jersey Assistance Program is established as a program administered by the Economic Development

Authority (EDA).

The program allows the EDA to grant tax credits to businesses that meet the eligibility qualifications of the grant program.

The tax credit is applied against the business’s Corporation Business Tax liability.

The amount of the tax credit that exceeds the business’s tax liabilities for the tax period can be carried forward for a period of

20 years, provided the total value of all credits awarded by the EDA do not exceed the yearly limit.

Businesses which receive the tax credit can also apply for a benefit transfer certificate covering tax periods over one or more

years in lieu of using the credits.

The transfer certificate can be sold to another business that has Corporation Business Tax liabilities for consideration of an

amount which is a minimum of at least 75 percent (75%) of the value of the tax credit transferred.

Scynexis | Cushman & Wakefield

Grow New Jersey Assistance Program

Current Legislation

4

Grow NJ Assistance Program

Type: Transferrable tax credits

Amount: •Base Award as follows:

−Mega Project or projects located in an Urban Transit Hub or Garden State Growth Zone: $5,000

−Projects in distressed municipality: $4,000

−Projects in other priority areas (Planning Areas 1 and 2 designated deep poverty pocket, TOD project, etc.): $3,000

−Projects in other eligible areas: $500

•Bonus Award of $250 and up to $5,000 per job per year for 10 years for meeting certain requirements.

•The final total tax credit will be calculated as follows:

− 100% for each full-time job

− 50% for each retained job (unless the new qualified business facility has been wholly or substantially damaged as a

result of the federally-declared disaster)

Eligibility: •Minimum Capital Investment Requirement: (Includes building, furniture fixtures and equipment within 3 years of approval)

−Industrial: Rehab projects $20 per square foot and new construction projects $60 per square foot.

−Non-Industrial: Rehab projects $40 per square foot and new construction projects $120 per square foot

−The minimum capital investment required shall be reduced by one-third for projects located in a Garden State Growth

Zone or projects located within Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean, or Salem

counties.

•Minimum Job Creation or Retention Requirement:

−Tech Start-up or Manufacturer: 10 new or 25 retained

−Targeted Industry: 25 new or 35 retained

−Any other business: 35 new or 50 retained

−The minimum number of new or retained full-time jobs required shall be reduced by one-quarter for projects located in

a Garden State Growth Zone or projects located within Atlantic, Burlington, Camden, Cape May, Cumberland,

Gloucester, Ocean, or Salem counties.

•Mega Project is a business which has more than 250 created or retained jobs and a capital investment of more than $20M

if located in a Port District; or more than $50M if located in an urban transit hub municipality.

•Garden State Growth Zone refers to the four New Jersey cities with the lowest median family income based on the 2009

American Community Survey from the US Census.

Grow New Jersey Assistance Program

Current Legislation Continued

Grow NJ Assistance Program

Limitations: •Tax Credit must yield a net positive effective for the state equal to at least 110 percent of the requested tax

credit allocation amount based on benefits generated during the first 20 years following completion of the

project or 30 years for a Mega Project. For a project located in a Garden State Growth Zone, the net positive

benefit determination shall be based on the benefits generated during a period of up to 35 years following

completion of the project and must equal at least 100 percent of the requested tax credit allocation amount.

•Gross amount of tax credit per year subject to the following limitations:

−$15,000 per job per year up to $30M total annually for Mega Project or for a project in a Garden State

Growth Zone, or up to $35M total annually for a project in a Garden State Growth Zone which qualifies under

the “Municipal Rehabilitation and Economic Recovery Act,”;

−$12,000 per job per year up to $10M total annually for projects located in an Urban Transit Hub;

−$11,000 per job per year up to $8M total annually in distressed municipality;

−$10,500 per job per year up to $4M total annually in other priority areas but not more than 90 percent of the

withholdings of the business from the qualified business facility;

−$6,000 per job per year up to $2.5M total annually in other eligible areas but not more than 90 percent of

the withholdings of the business from the qualified business facility; and

−$2,000 per job per year for a disaster recovery project.

Transferability: •Credits may be sold to another business with NJ corporate income tax liability or insurance tax liability.

•Cannot be sold for less than 75% of value.

•Must transfer at least $1,000,000 credits although one transfer in each tax period may be in an amount less

than $1,000,000.

•Unused tax credits can be carried forward for 20 years.

Term/Commitment

Duration 10 years / 1.5 times the term

47.8%of the population over the age of 25 have at least a

bachelor’s degree, compared to the U.S. at 36.5%

2,586apartment units constructed

since the start of 2014

1,138condo units under construction

6,241rental units under construction

318.3KJersey City/Hoboken population

Expected to grow 5.0% through 2020

$38.68 PSFaverage Class A asking rental rate

the highest in the state

51.8%discount

compared to

MANHATTANCLASS A

WATERFRONTCLASS A

32.4%rental

premium over

WATERFRONTCLASS A

NEW JERSEYOVERALL

Prefer Jersey City & Hoboken because of:

• Transportation hubs

• Proximity to NYC

• Walkable neigborhoods

• Abundance of retailers

967,000 SF the five-year, annual gross leasing activity average

12 leases 50,000+ SF since 20147 leases 100,000+ SFfuel leasing activity

BIG DEALS

35%20%

10%

Retailers account for the third-highest leasing volume

TAMI (technology, advertising, media, information services)is beginning to narrow the gap The bulk of new leasing volume

was from Financial Services, significantly down from 48% market share in 2007-2009 as market becomes more diversified

Leasing by Industry Since 2013

Class A inventoryaverage age, while

remainder of the NJ market averages 27 years

20 years

Class A inventory SF built/renovatedsince 2000, versus

27.0% for suburban NJ

57.3%

Blocks of space over 100,000 SF

available

5

Vacancy 660 BPSbelow overall

NJ market

12.2%

state incentivesa key driver

21% of 1Q16 New Jersey

leasing activity was from the Waterfront