Portfolio Overview

Our Portfolio of Assets

As of 31 March 2018, the portfolio of Manulife US REIT comprises five office properties in the United States, with an aggregate net lettable area of 2,984,578 sq ft.

Portfolio consists of Figueroa in Los Angeles, Michelson in Irvine, Peachtree in Atlanta, Plaza in Secaucus, and Exchange in Jersey City.

Portfolio Summary (As at 31 Mar 2018)
Total Valuation1 US$1.3 billion
Total Net Lettable Area (sq ft) 2,984,578 sq ft
WALE (by NLA) 5.7 years
Occupancy 95.8%
Land Tenure 100% Freehold
Number of Tenants 101
  • Based on appraisals as at 31 Mar 2018, CBRE for Michelson, Figueroa and Peachtree; C&W for Plaza; and Colliers for Exchange.

Our Properties

Figueroa

865 South Figueroa Street
Los Angeles, California

A 35-storey granite and reflective glass office tower located in Downtown Los Angeles, California in the immediate vicinity of entertainment venues including LA Convention Center, Staples Center and LA Live.

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Michelson

3161 Michelson Drive
Irvine, California

A state-of-the-art 19-storey, high-rise Trophy office building strategically located between Los Angeles and San Diego, surrounded by hotels, high-end condominiums and apartments, restaurants, and a wide range of retail options.

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Peachtree

1100 Peachtree Street
Atlanta, Georgia

A 27-storey Class A office building located in a prominent location on Peachtree Street within the Midtown submarket of metropolitan Atlanta. The building's amenities include a high-end seafood restaurant, a sandwich cafe, news and sundries shop, a brand new fitness centre and a large conference centre.

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Plaza

500 Plaza Drive,
Secaucus, New Jersey

Plaza is a 11-storey Class A office building with 461,525 sq ft of leasable area, located in Secaucus, New Jersey. The Property underwent major refurbishment in 2015 and 2016, with improvements to the amenities and substantial upgrades to the finishes and grounds.

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Exchange

10 Exchange Place
Jersey City, New Jersey

Exchange is located at 10 Exchange Place in Jersey City, New Jersey, with outstanding transportation links through interstate highways and three major airports, Newark, LaGuardia and John F. Kennedy. The property allows tenants to step out and travel directly to NYC through Exchange Place Station (PATH) in 10 minutes,

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Penn

1750 Pennsylvania Avenue
Washington, D.C.

Penn is located a block away from the White House in Washington, D.C., and in close proximity to the International Monetary Fund, the World Bank and the Federal Reserve.

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Phipps

Phipps Tower
Atlanta, Georgia

Phipps is strategically located in the Buckhead office submarket in Atlanta, one of the primary business districts of Atlanta. Buckhead has high-end retail and entertainment venues and is surrounded by an upscale residential area.

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Portfolio Statistics

As at 31 Mar 2018 Figueroa Michelson Peachtree Plaza Exchange
Location Los Angeles Irvine Atlanta Secaucus Jersey City
Usage Office Office Office Office Office
Land Tenure Freehold Freehold Freehold Freehold Freehold
Completion Year 1991 2007 1991 1985 1988
Parking Stalls 841 2,744 1,221 1,474 467
NLA (sq ft) 701,978 532,663 557,589 461,525 730,823
Valuation (US$ million) 326.3 342.1 194.2 118.0 334.8
WALE by NLA (years) 4.7 4.2 5.6 8.1 6.5
Number of Tenants 29 15 25 7 25
Occupancy Rate 93.0% 96.5% 92.7% 98.9% 98.3%