Advance Realty Completes More Than 56,000 Square Feet of Deals at One Gateway Center in Newark, N.J.
City’s Premier Office Tower Sees Mix of New Deals, Expansions and Renewals
Advance Realty, a leading Northeast U.S. owner and developer of Class A office, mixed-use and flex-space properties, has announced that more than 56,000 square feet of deals were completed in the first quarter of 2011 at One Gateway Center, the company’s strategically located office tower in downtown Newark, N.J.
Brian Banaszynski, vice president of leasing, represented Advance Realty in the following nine transactions, which included new leases, expansions and renewals:
• Axinn, Veltrop & Harkrider, LLP signed a new lease for 9,009 square feet. Andrew Hawkins, vice president at Grubb & Ellis, represented the law firm.
• Kellogg, Huber Hansen, Todd, Evans & Figel signed a new lease for 4,719 square feet. Wesley Moore, senior associate at CB Richard Ellis, represented the firm.
• Phelan Hallinan & Schmieg, PC inked a new lease totaling 3,318 square feet. Executive Managing Director Bryn Cinque and Director James Bailey of Colliers International represented the tenant.
• Gibbons PC completed a lease expansion for 7,997 square feet.
• Hawkins, Delafield & Wood signed a 5,505-square-foot expansion and renewal. Richard Baumstein of Cushman & Wakefield represented the firm.
• Merrill Lynch, Pierce, Fenner & Smith Inc. signed a 13,635-square-foot renewal. Jones Lang LaSalle Vice Presidents John Crozier and Dan De Palma represented the investment advisor.
• Senator Frank Lautenberg renewed for 6,136 square feet of space.
• Medvin & Elberg renewed for 3,416 square feet of space. Bryn Cinque and Jim Bailey of Colliers International represented the firm.
• Cinque and Bailey also represented Wollmuth Maher and Deutsch in the signing of a 2,600-square-foot renewal.
“We are experiencing a healthy amount of interest at One Gateway Center as evidenced by the signing of these nine transactions in the first quarter,” said Brian Banaszynski, Advance Realty’s Vice President of Leasing. “It’s an encouraging sign to us and for the economy that our existing tenants have realized the benefits of being in such a preeminent site and are expanding and renewing. It’s also promising that more new tenants are selecting One Gateway as their new home because of all the advantages it provides for them and their employees.”
Various size spaces are currently available at One Gateway Center, a 26-story, 466,919-square-foot building. The available units include highly upgraded space as well as an 8,270-square-foot, plug-and-play Network Operations Center (N.O.C.) with room for expansion. The N.O.C. is move-in ready with backup electrical systems, emergency generator, supplemental air conditioners, in-place workstations and a dedicated data center with separate supplemental air conditioning/projection room, conference room with direct view of N.O.C., as well as an overhead cable tray with CAT 6 wiring in place.
One Gateway Center is Newark’s premier office building, offering such unique features as a fully enclosed direct skywalk connection to Newark’s Penn Station, which serves Amtrak, NJ Transit and PATH trains, and offers direct access to Manhattan in less than 20 minutes. The Gateway Complex also features a 30,000-square-foot retail concourse that includes banking, dining, fitness and other upscale amenities; and provides convenient access to Newark’s Liberty Airport, Prudential Center, the New Jersey Performing Arts Center and Newark’s federal and county court houses.
Located in the heart of Newark’s business district, One Gateway Center has close proximity to the New Jersey Turnpike (Interstate 95), Interstates 280 and 78, the Garden State Parkway, Routes 1 and 9 and Route 21/McCarter Highway.
In 2010, One Gateway received “The Outstanding Building of the Year” (TOBY) recognition from the Building Owners and Managers Association (BOMA) of New Jersey for the second time. BOMA’s annual TOBY awards recognize quality in office buildings and excellence in building management.
About Advance Realty
Headquartered in Bedminster, N.J., Advance Realty is an owner and developer of office, flex, industrial, retail and multifamily properties. With 4.5 million square feet of operating properties and a development portfolio consisting of 6 million square feet of commercial projects and 6,500 residential units, Advance is one of the leading real estate owners in the Northeast. For more information, call Advance Realty at (908) 719-3000 or visit www.advancerealtygroup.com.
