Investors Bet Big on Jersey City Office Tower in Contrarian Play

JERSEY CITY, NJ – April 23, 2026 – In a bold move that signals confidence in the long-term value of transit-oriented urban office space, Real Capital Solutions (RCS), in partnership with Lamar Companies, has acquired 30 Montgomery, a prominent 16-story Class A office tower on the Jersey City waterfront. The acquisition of the 368,049-square-foot building marks RCS’s strategic entry into the competitive Jersey City office market and underscores a growing investment thesis: capitalize on assets repriced by capital market turmoil, not fundamental weakness.

Located in the heart of the Exchange Place submarket, 30 Montgomery stands as a testament to the area's appeal, offering unparalleled connectivity to Manhattan and the wider region. The deal represents the second major office transaction between the two firms in just seven months, highlighting a strengthening alliance focused on identifying and unlocking value in a complex real estate landscape.

A Contrarian Bet on Repriced Assets

The acquisition comes at a time when the national office market is navigating significant headwinds, including high vacancy rates and the lingering effects of hybrid work models. However, the investors are looking past the surface-level turbulence. “This is exactly where we want to be investing right now,” said Adam Abeln, Chief Acquisitions Officer at Real Capital Solutions. “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.”

This strategy directly confronts the current market dynamics. Since early 2022, rising interest rates have increased borrowing costs and expanded capitalization rates, placing downward pressure on commercial property valuations across the board. This has created a valuation disconnect between buyers and sellers, slowing transaction volumes. Furthermore, a looming “maturity wall” of commercial real estate debt—with an estimated $1.7 trillion coming due between 2024 and 2026—is forcing many property owners into difficult refinancing situations or distressed sales.

For well-capitalized and opportunistic firms like RCS, this environment is ripe with potential. The company’s recent activity, which includes the acquisition of 12 office properties nationwide and the deployment of over $560.5 million in capital during this cycle, demonstrates a clear and aggressive strategy. By targeting assets with strong underlying qualities at a reset cost basis, the firm aims to generate significant returns as the market stabilizes and leasing activity recovers.

Jersey City’s Enduring Waterfront Appeal

While the investment strategy is opportunistic, the choice of location is highly deliberate. Jersey City, and particularly its Hudson Waterfront, remains a powerful magnet for businesses and residents alike. Despite a city-wide office vacancy rate hovering around 27%, the waterfront submarket boasts superior performance and a compelling value proposition. Class A office rents in this corridor average around $42 to $48 per square foot, a substantial discount compared to Manhattan’s average of over $70 per square foot.

This affordability, combined with exceptional transit access, makes it a formidable competitor for tenants seeking high-quality space without the premium price tag of a Manhattan address. 30 Montgomery offers direct, in-building access to the Exchange Place PATH station, along with nearby ferry terminals and regional transit hubs, providing seamless commutes that rival or even surpass those from other New York City boroughs.

The city’s demographic fundamentals further bolster the investment case. Jersey City’s population surged by over 18% between 2010 and 2020 and continues to grow, attracting a diverse and affluent talent pool. Recognized as one of the most ethnically diverse cities in the nation, its vibrant culture, growing culinary scene, and burgeoning residential communities make it a true live-work-play destination. This sustained residential growth creates a virtuous cycle, fueling demand for local services and supporting the office ecosystem.

Modernizing for the New Office Tenant

The building itself is a key part of the value-creation equation. 30 Montgomery is not a languishing, outdated property. It has recently undergone more than $30 million in capital investments, resulting in significant upgrades to its lobby, façade, building systems, and common areas. This modernization effort positions the tower to meet the evolving demands of today’s tenants, who increasingly prioritize amenity-rich, technologically advanced, and well-maintained environments.

Currently 61% leased, the property presents what the new ownership sees as a clear opportunity. “30 Montgomery fits squarely within our focus on well-located assets with near-term leasing upside,” noted Frank Maresca, Executive Vice President of Lamar Companies. The remaining vacancy is viewed not as a liability, but as a canvas for executing a targeted leasing strategy.

The building’s design, featuring flexible floor plates and smaller suite configurations, is particularly well-aligned with current market trends. It caters to the robust demand from professional services firms, financial tech companies, and other growth-oriented businesses that seek adaptability and efficiency. The existing tenant roster—which includes fintech firm Bluevine Capital, SaaS provider Wayste (Sourgum), real estate lender Asset Based Lending, and healthcare tech company Outcomes Matter Innovations—already reflects this diverse and dynamic mix. The new ownership’s plan is to leverage the building’s modern features and prime location to attract similar high-caliber tenants and drive occupancy toward stabilization.