Manulife Acquires Exchange Place Ctr for $285M

Manulife Real Estate purchased Exchange Place Centre in Jersey City, NJ for $ 285 million, or $ 380 per square foot, from an investment group led by INVESCO Real Estate.

Built in 1988 on one acre at 10 Exchange Pl in the Hudson Waterfront submarket, the 30-story, 748,000-square-foot, class A office tower offers unobstructed views of lower Manhattan with direct access to the PATH rail, light rail, bus and ferry service to New York City.

The building…
National Commercial Real Estate News From CoStar Group