Lamar Cos. and Real Capital Solutions are launching a multimillion-dollar update of 30 Montgomery in Jersey City that will include a renovated lobby and new amenities designed by HLW. — Rendering courtesy: Cushman & Wakefield
By Joshua Burd
The new owners of a Jersey City office building are seeing a fresh wave of tenant demand, securing nearly 24,000 square feet of leasing activity in less than four months.
That’s according to Cushman & Wakefield, the leasing agent for 30 Montgomery St., which has completed seven new leases at the property since it was acquired in April by Lamar Cos. and Real Capital Solutions. They include deals with Four Squares Capital, Fast Transportation, Compass Pathways, TLS Logistics, HP4, Renue Wellness and Clear Laser — activity that comes as ownership prepares to begin a multimillion-dollar update of the 16-story, 368,049-square-foot building.
Cushman’s David DeMatteis, Mina Shehata and Patrick Dean represented ownership in the transactions. The firm’s Jerry Schifrin and Alan Wildes represented Compass Pathways, while colleagues Nicholas Dysenchuk and Rob Lowe represented HP4.
Additionally, C&W’s Frank Maldonado and Dan Johnsen represented Renue, while Diane Cai of Realmart represented Clear Laser. The landlord’s agency leasing team procured the remaining tenants directly.
“We are extremely pleased with the leasing momentum at 30 Montgomery since closing,” said Ralph Pugliano, executive vice president at Lamar Cos. “Alongside Real Capital Solutions, we are committed to making a meaningful investment in lobby renovations, a new modern tenant amenity lounge and warranted tenant finish work. Having this early leasing activity confirms the demand for quality office space that is backed by committed ownership.”
Located in the heart of Jersey City’s central business district, 30 Montgomery is steps from PATH, Hudson-Bergen Light Rail and NY Waterway ferry service, providing convenient connectivity to Manhattan and the broader region, Cushman said. The property is surrounded by restaurants, retail and neighborhood amenities, making it an attractive location for a wide range of office users.
Lamar and Real Capital followed their acquisition by committing to the updated lobby and the addition of new tenant amenities designed by HLW’s New Jersey office. Construction is expected to begin in the coming months as the ownership group continues to invest in elevating 30 Montgomery and enhancing the tenant experience.
“The leasing activity we’ve seen since the acquisition reflects current demand for well-capitalized office building owners who invest in their assets,” DeMatteis said. “Combined with a significant capital improvement program and a committed ownership group, 30 Montgomery is well positioned to continue attracting small to midsize companies seeking quality office space in one of the region’s most accessible business districts.”
