$16 million renovation project sparks leasing interest at Onyx and Rubenstein’s class A tower
JERSEY CITY, NJ — Onyx Equities and Rubenstein Partners have launched a planned $16 million capital improvement program at 30 Montgomery St. in Jersey City. The 320,000 s/f, 15-story office tower sits in the heart of the city’s waterfront business district. Commercial real estate services firm Cushman & Wakefield serves as leasing agent for 30 Montgomery St.
“The ownership has set out to position 30 Montgomery Street as Jersey City’s premier, boutique class A building,” said Cushman & Wakefield’s David DeMatteis, who heads the assignment with Marc Trevisan out of the company’s East Rutherford, NJ, office. “The renovation launch is an exciting step forward. Even in the planning stage, the project bolstered tenant renewals and leasing inquiries.” The improvements include a new, two-story entry lobby and an increased building footprint with added retail space. A repainted façade and common area updates will modernize 30 Montgomery St.’s image, while replacement of the building’s windows and HVAC upgrades will increase the building’s energy efficiency. The project is expected to be completed by December 2015. Trevisan noted that 30 Montgomery St. provides one of the few opportunities for smaller tenants to lease in the Jersey City market yet also can accommodate larger space users. “We have units starting at 1,500 s/f and up to 60,000 s/f,” he said. “Whether they are ‘home grown’ in Jersey City or coming from Manhattan, our tenant base includes a diverse clientele looking to define themselves in a skyscraper environment with New York City views. In recent months, we have seen particular momentum among financial services and technology firms.” The building sits one block from the Exchange Place PATH Station and a Bergen/Hudson Light Rail stop. Tenants enjoy easy access to the Holland Tunnel, the NJ Turnpike and Route 1&9, as well as Newark Liberty International Airport.