15 Exchange Place in Jersey City — File photo
By Joshua Burd
A real estate investment trust has found new office space in Jersey City after signing a lease along the Hudson waterfront, brokers with Princeton Property Partners announced recently.
The tenant, Essential Properties Realty Trust, will occupy 4,000 square feet at 15 Exchange Place under a deal with American Equity Partners, according to a news release. Princeton Property Partners President Sab Russo and Associate Director Krista Weaver represented the publicly traded company in the deal, while Mike Pietrowicz and David Stifelman of JLL represented ownership at the 11-story, 136,000-square-foot building.
“EPRT is headquartered in Princeton but required a satellite office in Jersey City to allow easy access to financial markets and to recruit talent from North Jersey and (New York City),” Russo said, touting the building’s unobstructed views of the Hudson River and Manhattan skyline. He also pointed to the importance of the Exchange Place PATH station and Hudson-Bergen Light Rail service across the street.
“David Elkouby, managing partner for the landlord, American Equity Partners, is hands-on and has a great team in place,” Russo added.
PPP previously represented EPRT in its 14,000-square-foot lease in the Princeton submarket, at 902 Carnegie Center, which serves as its headquarters.
