Real Capital Solutions (RCS), in a strategic partnership with Lamar Companies, has announced the acquisition of 30 Montgomery, a 16-story Class A office tower in the heart of Jersey City’s Exchange Place submarket.
The deal marks RCS’s official entry into the Jersey City office market and underscores an investment strategy that seeks to capitalize on current market shifts. With this closing, RCS has now deployed more than $560.5 million in capital across 12 office properties nationwide during the current market cycle.
The 368,049-square-foot tower is situated along the Hudson Waterfront, a region that remains one of the most transit-connected and rapidly expanding office hubs in the Northeast. While the broader office sector faces headwinds, RCS leadership views the current environment as a prime window for acquiring high-quality assets at a favorable basis.
“This is exactly where we want to be investing right now,” Adam Abeln, chief acquisitions officer at Real Capital Solutions said. “Assets like 30 Montgomery are being repriced due to capital markets, not fundamentals. That creates an opportunity to step in at a basis where execution drives returns.”
Currently 61% leased, 30 Montgomery boasts a diverse tenant roster including Bluevine Capital, Wayste (Sourgum), Asset Based Lending, and Outcomes Matter Innovations. The property is well-positioned for immediate leasing upside, thanks in part to more than $30 million in recent capital improvements.
Recent upgrades to the building include:
- Modernized Lobby: A revamped entrance to meet Class A standards.
- Façade and Systems: Enhancements to the building’s exterior and core infrastructure.
- Flexible Layouts: Floor plates and suite configurations designed to appeal to professional services and high-growth firms.
“30 Montgomery fits squarely within our focus on well-located assets with near-term leasing upside,” Frank Maresca, executive vice president of Lamar Companies said. “With the capital already invested and the right execution plan, we see a clear path to creating value.”
The property’s location offers unparalleled access to regional transit, including the Exchange Place PATH station, NY Waterway ferry terminals and the Hudson-Bergen Light Rail. This connectivity provides a seamless link to Manhattan while benefiting from the massive residential boom currently reshaping the Jersey City skyline.
As professional services firms continue to seek out “commuter-friendly” locations that offer a high quality of life for employees, the Exchange Place submarket remains a top contender for companies looking to move or expand outside of New York City.
- Real Capital Solutions (RCS): A highly active investment firm that specializes in identifying “mispriced” assets and utilizing an entrepreneurial approach to drive returns through intensive asset management.
- Lamar Companies: A diversified real estate investment company with a track record of identifying and executing on value-add opportunities across various asset classes.
Financial terms of the 30 Montgomery transaction were not disclosed.
