Advance Realty Group Signs 27,656 SF Lease with Kaplan, Inc. at One Gateway in Newark, NJ
LEADING EDUCATIONAL INSTITUTION WILL OPERATE MEDICAL TRAINING SCHOOL AT SITE
Advance Realty Group, a Bedminster, NJ-based commercial real estate owner and developer, has announced Kaplan, Inc., one of the world’s leading providers of lifelong education with operations around the globe, has signed a lease for 27,656 square feet at One Gateway Center in Newark, New Jersey. This space will serve as a training center for Kaplan’s medical school division.
“We are extremely pleased to welcome Kaplan, Inc. to One Gateway,” stated Bob Martie, senior vice president and regional managing director, Advance Realty Group. “This lease is yet another validation of our vision for One Gateway. To have one of the world’s most respected educational training companies select One Gateway as the site for its medical training school is a tremendous win not only for Advance, but for the City of Newark as well,” he continued.
GVA Williams New Jersey serves as exclusive leasing agent of the office component of One Gateway Center, and also represented Kaplan, Inc. in this transaction.
Advance Realty Group recently completed a multi-million dollar repositioning of One Gateway Center in Newark, New Jersey. Designed by the Grad Partnership, the dramatic new lobbies and enhanced retail space at One Gateway, creates 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.
In addition, Advance unveiled a dramatic, secco-designed, 16″ by 9″ mural within the lobby of One Gateway. Commissioned by Advance Realty Group, Andrea Heinisch, a renowned artist from Florence, Italy, along with three other prominent artists, used a secco, meaning “dry” in Italian, technique which utilizes mineral and earth pigments. This dramatic fresco, titled the “Ideal City,” was the vision of Peter J. Cocoziello, president and CEO of Advance Realty Group, whose inspiration was to create a work of art that symbolizes the best of what the City of Newark represents.
Originally built in 1971, One Gateway Center has historically been the center of business activity in Newark. Spanning 491,864 square feet of office space, with 50,000 square feet of retail space including a health club and restaurants, One Gateway Center is strategically located directly across from Newark 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.
With the Kaplan lease, current availability at One Gateway includes approximately 95,000 square feet.
Kaplan provides higher education, professional training, test preparation, services for K12 schools and after-school learning programs. Kaplan, which had 2004 revenues of more than US$1.1 billion, is a wholly owned subsidiary of The Washington Post Company (NYSE: WPO). For more information about Kaplan, please visit www.kaplan.com.
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Advance Realty Group is an owner and developer of office, flex, industrial, retail and multifamily properties. With five million square feet of operating properties and a development portfolio consisting of eight million square feet of commercial projects and 9,400 residential units, Advance is one of the leading real estate owners in the Northeast and is headquartered in Bedminster, New Jersey.