July 8, 2016
American Realty Advisors acquired 30 Montgomery Street, a 315,385-square-foot building situated on the New Jersey Hudson Waterfront in Jersey City, NJ. The Glendale, CA-based buyer paid $101 million to Onyx Equities LLC for the 16-story office tower.
The buyer liked the asset for many reasons, not the least of which was its proximity to direct transportation links to Manhattan. Furthermore, 30 Montgomery provides a lower-rent alternative. The building is 71.6% leased.
Additionally, the building has 21,000-square-foot floor plates. “We expect this asset to continue to cater to a niche tenant market, offering functionality and identity to the market’s underserved smaller-space office users, as well as an expansive window line with views of the New York City skyline,” said Eric Cannon with American Realty Advisors.