JERSEY CITY, NJ—Onyx Equities and Rubenstein Partners have launched a planned $16 million capital improvement program at 30 Montgomery Street in Jersey City. The 320,000-square-foot, 15-story office tower is in the heart of the city's waterfront business district.

“The ownership has set out to position 30 Montgomery Street as Jersey City's premier, boutique class A building,” says Cushman & Wakefield's David DeMatteis, who heads the exclusing leasing assignment for the building with Marc Trevisan out of the company's East Rutherford, NJ, office. “The renovation launch is an exciting step forward. Even in the planning stage, the project bolstered tenant renewals and leasing inquiries.”

The improvements include a new, two-story entry lobby and an increased building footprint with added retail space. A repainted façade and common area updates will modernize 30 Montgomery Street's image, while replacement of the building's windows and HVAC upgrades will increase the building's energy efficiency. The project is expected to be completed by December 2015.

Trevisan says 30 Montgomery Street provides one of the few opportunities for smaller tenants to lease in the Jersey City market yet also can accommodate larger space users.

“We have units starting at 1,500 square feet and up to 60,000 square feet,” he says. “Whether they are 'home grown' in Jersey City or coming from Manhattan, our tenant base includes a diverse clientele looking to define themselves in a skyscraper environment with New York City views. In recent months, we have seen particular momentum among financial services and technology firms.”

Current tenants at 30 Montgomery Street include Caduceus Inc., Genova Burns and BT Systems. The building has onsite management, 24-hour security, garage parking and local retail amenities. The building is one block from the Exchange Place PATH Station and a Bergen/Hudson Light Rail stop, and has easy access to the Holland Tunnel, the NJ Turnpike and Routes 1 and 9, as well as Newark Liberty International Airport.