Thursday, July 7, 2016

American Realty Advisors Acquires Class A Office Asset in Jersey City, NJ for $101 Million

30 Montgomery Street Office Tower, Hudson Waterfront, Metro New York City

 Jersey City, NJ, July 7, 2016 – American Realty Advisors has acquired  a 16-story boutique office tower located in the Hudson Waterfront 30 Montgomery Street,submarket of the New York City Metro area for $101 million. 

The 315,385 square-foot building, which is ideally situated on the New Jersey Hudson Waterfront within one block of a major mass transit hub, was substantially upgraded and renovated over the last several years. 

Kirk Helgeson
American was attracted to the asset because of the direct transportation link to Manhattan, as well as access to new and growing amenities.

 In addition, 30 Montgomery will benefit from its position as a lower rent alternative in an emerging 18-hour live/work/play location, which is similar to other emerging markets throughout the country, e.g. the Chicago Fulton Marketplace in which American recently acquired Google’s Midwest headquarters.

According to Kirk Helgeson, American’s Chief Investment Officer, “30 Montgomery’s location is particularly attractive based on the rapidly transforming Hudson Waterfront submarket, which is benefitting from strong population growth, sustained residential development, expanding cultural/entertainment/retail amenities, and a diversification of the local employment base.”

Helgeson also notes that this asset is ideally situated to benefit from one of America’s fastest growing residential markets.

“Jersey City is projected to add nearly 7,500 units by the end of 2017, driving additional economic growth associated with the new residents, service providers, retail, and amenities necessary to support a thriving 24/7 CBD,” says Helgeson.

The seller was represented by David Bernhaut, Andrew Merin, and Gary Gabriel of Cushman & Wakefield. 

For a complete copy of the company’s news release, please contact:

Devin Ugland / Jenn Quader for American Realty Advisors
Brower, Miller & Cole
(949) 955-7940,

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