Manulife US REIT Secures 65-Month Lease Extension With ACE American Insurance At 10 Exchange Place

The property involved in this transaction is an office asset located at 10 Exchange Place in Jersey City, encompassing a total of 117,280 square feet. The landlord for this property is John Casasante, representing Manulife US REIT, who has secured a lease extension with the tenant, ACE American Insurance.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Lease Term: 65-month
• Landlord: John Casasante - Manulife US REIT
• Tenant: ACE American Insurance
• WALE increase: From 3.7 to 4.5 years
• Lease expiry: May 2035

The lease extension represents a strategic move to enhance asset stability by maintaining the tenant in the property at unchanged rent, thereby positively impacting the overall financial profile of the Jersey City office property.