McCarter and English renews 143,000 s/f Gateway lease.McCarter & English, LLP LLP - Lower Layer Protocol , New Jersey's oldest and largest law firm, has renewed its 143,000 S/F S/F Semper Fidelis S/F Storefront S/F Shortfall S/F Sport Fish (type of boat) S/F Sport Fisherman (boat type) S/F Store & Forward S/F Sound Flash lease at Four Gateway Center in Newark, announced Steven Greenberg Steven Greenberg may refer to:
The renewal marks the first lease transaction at Four Gateway Center since Heritage purchased the 327,000-square-foot, Class A office tower last fall. McCarter & English is a firm of more than 400 lawyers with additional offices in Boston, Hartford, Stamford, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Philadelphia, Wilmington and Baltimore. Situated in the heart of Newark's downtown office district, the 15-story Four Gateway Center building is part of the landmark Gateway Center complex located adjacent to Newark Penn Station. The building currently is 92 percent leased to McCarter & English and Prudential Insurance. "When we purchased Four Gateway Center, McCarter & English was looking at other space options," said Jeffrey Greenberg. " We are extremely proud to have played a role in retaining for Newark one of the city's longest-term, highest profile tenants. Their presence at Four Gateway Center is a testament to the building and to the City, and we are committed to upholding the prestigious image the firm projects for its employees and clients here." Heritage Management Company is planning to renovate the McCarter & English offices at Four Gateway Center. "Building on the presence of the strong credit tenants here, we will strengthen the property's competitive position through a program of capital improvements to the lobby and retail space," Greenberg said. "Our immediate goals are to reposition the building's retail component and stabilize stabilize See peg. the office portion with long-term leases." Four Gateway Center, which was purchased through a joint venture with Ivy Equities, represents Heritage Management's third Newark office investment. The firm purchased 550 Broad Street, a 312,000-square-foot office tower in the city's central business district in 2000 and three years later bought the neighboring neigh·bor n. 1. One who lives near or next to another. 2. A person, place, or thing adjacent to or located near another. 3. A fellow human. 4. Used as a form of familiar address. v. , 200,000-square-foot 570 Broad Street. Successful repositionings at both properties are credited for launching the renewal of the now thriving Broad Street neighborhood. Both buildings received BOMA's "The Office Building of the Year" award and NJBIA's "New Good Neighbor" award. Heritage sold 570 Broad Street in 2007 and used 1031 Exchange monies from that disposition to purchase Four Gateway Center. "We are thrilled thrill v. thrilled, thrill·ing, thrills v.tr. 1. To cause to feel a sudden intense sensation; excite greatly. 2. To give great pleasure to; delight. See Synonyms at enrapture. to continue our involvement in the City of Newark," Steven Greenberg said. "The Gateway neighborhood is an exciting place to be, with the new Devil's arena going up right next door and the city's continued corporate, retail, residential and cultural renaissance. We believe in Newark, and we believe in this location." |
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