15 Exchange Place in Jersey City — File photo
By Joshua Burd
IPRG has found a new home in Jersey City after leasing 5,000 square feet at a well-known office building along the Hudson River.
The brokerage firm said the deal at 15 Exchange Place, which is owned by American Equity Partners, supports its growing investment sales team in New Jersey while allowing it to upgrade its facilities. It has moved from 75 Montgomery St., joining a diverse and high-caliber tenant mix that includes movie production companies, technology firms, commercial real estate investment firms and financial technology startups, along with established financial institutions.
Newmark’s Jamie Drummond represented ownership. Yanni Marmarou, a partner with IPRG and head of its New Jersey team, represented the firm in-house.
“This relocation to 15 Exchange Place marks a significant milestone for IPRG New Jersey, enabling us to expand our capabilities and deliver enhanced service to our clients in this dynamic market,” Marmarou said. “The downtown Jersey City waterfront continues to emerge as a premier hub for business and innovation, supported by robust leasing momentum and unparalleled access to major transit options, including the Exchange Place PATH station, making it an ideal location for our expanding team.”
IPRG announced the deal while noting that 15 Exchange Place, which has benefited from recent upgrades by AEP, has commanding views of the Manhattan skyline and the Hudson River. The new lease also comes amid declining vacancy rates for Class A properties in the waterfront submarket, where asking rents in mid-2025 averaged $44.51 per square foot, 32 percent above the northern New Jersey average yet highly competitive relative to Manhattan.
The finance, insurance and real estate sector has led the market, comprising 63 percent of leasing activity from 2022 to 2025, IPRG said. That’s due in large part to the impact of enhancements managed by the Exchange Place Alliance Special Improvement District, which delivers cleaning, landscaping and community services.
The brokerage firm also pointed to the role of nearby transformative developments, including Tishman Speyer’s forthcoming two-tower, 1,921-unit residential project at 50-55 Hudson St. That will include Jersey City’s first Trader Joe’s, which is slated to open in early 2027.
IPRG debuts new office in downtown Jersey City for growing North Jersey team
