American Equity Partners Acquires Office Building In Jersey City For $48M

The office property located at 15 Exchange Place in Jersey City has been sold in a transaction brokered by JLL. The deal was closed on February 17, 2022, with a sale price of $48,000,000. The property spans 135,959 square feet, resulting in a price per square foot of $353. The buyer of the property was American Equity Partners, while the seller was Hartz Mountain Industries.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $48,000,000
• Address: 15 Exchange Place, Jersey City
• Market: Jersey City
• Brokers: Jose Cruz, Kevin O'Hearn, Andrew Scandalios & Jason Lundy - JLL

JLL represented both the buyer, American Equity Partners, and the seller, Hartz Mountain Industries, in this office property transaction. The involvement of multiple brokers highlights the complexity and significance of the deal, further emphasizing the expertise brought into the negotiation and closing process.