Advance Realty Group Announces Multimillion Dollar Repositioning Of Newark Landmark
Advance Realty Group has broken ground on a multimillion dollar repositioning of One Gateway Center in Newark, New Jersey. The landmark mixed-use office and retail complex was acquired by Advance Realty Group in late 2002 and the Company subsequently began plans to significantly upgrade the historic complex. This endeavor is one of the largest and most important re-investment projects taking place in Newark.
Originally built in 1971, One Gateway Center has historically been the center of business activity in Newark. Spanning 462,000 square feet of office space, with 50,000 square feet of retail space, One Gateway Center is strategically located directly across from Newark Penn Station and is interconnected to the Hilton Hotel. Additionally, parking for the complex accommodates approximately 1,100 cars daily, more than any other building in this city.
The Company has retained the Grad Partnership, a long-time resident of Newark, to design dramatic new lobbies and enhanced retail space. The space design will create a bold, exciting and vibrant point of entry into the complex while also significantly upgrading the retail space to attract a higher end and more diverse mix of tenancy. Responding to its present occupants, the leasing and marketing efforts for the retail space will target a variety of users that will provide the services demanded by today’s sophisticated occupants.
“The repositioning of One Gateway Center represents an extraordinarily significant moment in Newark’s history,” stated Robert R. Martie, senior vice president of Advance Realty Group. “This substantial re-investment by Advance Realty Group reflects our unique strengths and core philosophy as a development company that has a long and successful track record at creating value and being market driven. Our renovation program will create a dynamic mixed-use environment for tenants to enjoy all of the conveniences, prestige and quality of one of the most desirable office buildings on either side of the Hudson.”
GVA Williams New Jersey serves as exclusive leasing agent of the office component of One Gateway Center. Current space availabilities range from 3,000 to 160,000 square feet.
One Gateway Center is a part of Gateway Center, New Jersey’s largest mixed-use project comprised of four interconnecting office buildings totaling 2.3 million square feet. The center provides a self-contained, institutional-quality, corporate office environment, which features a 250-room hotel with conference and meeting rooms and over 80,000 square feet of retail space including a health club and restaurants. In addition, One Gateway is directly across from Penn Station with Amtrak service to New York, Washington, D.C. and Boston. NJ Transit and the PATH trains also provide direct access to New York and Newark Liberty International Airport.
