{"id":1004035579,"date":"2011-12-21T05:20:17","date_gmt":"2011-12-21T13:20:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004035244"},"modified":"2022-12-09T01:49:15","modified_gmt":"2022-12-09T09:49:15","slug":"manulife-enters-nyc-office-market-with-285m-jersey-city-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/manulife-enters-nyc-office-market-with-285m-jersey-city-buy\/","title":{"rendered":"Manulife Enters NYC Office Market with $285M Jersey City Buy"},"content":{"rendered":"<p><strong>December 21, 2011<\/strong><br \/>\n<em>By Nicholas Ziegler, News Editor<\/em><br \/>\n<a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/122111-10-Exchange-Place-NJ.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/122111-10-Exchange-Place-NJ.jpg\" alt=\"\" title=\"122111 - 10 Exchange Place NJ\" width=\"278\" height=\"300\" class=\"alignright size-medium wp-image-1004035245\" \/><\/a><\/p>\n<p>It\u2019s quite an entrance into the metro New York City market for Manulife Real Estate, the global real estate arm of Canada-based Manulife Financial Co. &#8212; the parent company of John Hancock Financial. In one transaction, the company has picked up the 30-story trophy property 10 Exchange Place in Jersey City, N.J. for $285 million. Cushman &amp; Wakefield\u2019s metropolitan capital markets group arranged the sale on behalf of the seller, a client of Atlanta-based Invesco.<\/p>\n<p>\u201cWe continue to see an appetite by investors for large, well-located premier assets in this submarket,\u201d Cushman\u2019s Andrew Merin said of Jersey City, which he called a \u201csixth borough\u201d to New York. \u201cWith its accessibility, Jersey City provides an affordable alternative to Manhattan for Wall Street-related firms.\u201d<\/p>\n<p>This year, more than 21,000 jobs have been created in New Jersey alone, and it\u2019s likely that the increased activity in Downtown Manhattan is driving some of that growth.<\/p>\n<p>Completed in 1988, the 748,005-square-foot 10 Exchange Place is currently both LEED Gold and Energy Star certified. It is 100 percent leased with a tenant roster that includes ACE Insurance, Bank of America, Goldman Sachs and Amazon.com. The structure offers direct access to the PATH rail system to New York, as well as light rail, ferry and bus service.<\/p>\n<p>The Jersey City submarket has been undergoing a large amount of purchasing and development. Earlier this month, Mack-Cali formed a joint venture with Ironstate Development Co. to build a two-tower luxury apartment complex along the waterfront. One year ago, Manulife acquired the 415-unit Plaza Square in New Brunswick, N.J. for $112.5 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Manulife Real Estate has picked up the 30-story, 748,000-square-foot 10 Exchange Place in Jersey City for $285 million from Atlanta-based Invesco. <\/p>\n","protected":false},"author":1201,"featured_media":1004038255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,21808,21742,10,21747],"tags":[],"class_list":["post-1004035579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-real-estate","category-featured","category-latest","category-northeast","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Manulife Enters NYC Office Market with $285M Jersey City Buy - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/manulife-enters-nyc-office-market-with-285m-jersey-city-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Manulife Enters NYC Office Market with $285M Jersey City Buy\" \/>\n<meta property=\"og:description\" content=\"Manulife Real Estate has picked up the 30-story, 748,000-square-foot 10 Exchange Place in Jersey City for $285 million from Atlanta-based Invesco.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/manulife-enters-nyc-office-market-with-285m-jersey-city-buy\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-12-21T13:20:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:49:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/122111-10-Exchange-Place-NJ.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"481\" \/>\n\t<meta property=\"og:image:height\" content=\"519\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manulife-enters-nyc-office-market-with-285m-jersey-city-buy\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manulife-enters-nyc-office-market-with-285m-jersey-city-buy\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"Manulife Enters NYC Office Market with $285M Jersey City Buy\",\"datePublished\":\"2011-12-21T13:20:17+00:00\",\"dateModified\":\"2022-12-09T09:49:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manulife-enters-nyc-office-market-with-285m-jersey-city-buy\\\/\"},\"wordCount\":278,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manulife-enters-nyc-office-market-with-285m-jersey-city-buy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/12\\\/122111-10-Exchange-Place-NJ.jpg\",\"articleSection\":[\"Corporate Real Estate\",\"Featured\",\"News\",\"Northeast\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manulife-enters-nyc-office-market-with-285m-jersey-city-buy\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manulife-enters-nyc-office-market-with-285m-jersey-city-buy\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manulife-enters-nyc-office-market-with-285m-jersey-city-buy\\\/\",\"name\":\"Manulife Enters NYC Office Market with $285M Jersey City Buy - 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