MATRIX DEVELOPMENT GROUP ANNOUNCES NEARLY 50,000 SQUARE-FEET OF SPACE LEASES AND RENEWALS AT THE PLAZA COMPLEX IN NEW BRUNSWICK, NJ
$125 Million Mixed-Use Development Continues to be a Vital Part of
New Brunswick’s Revitalization
NEW BRUNSWICK, N.J. (October 8, 2007) – Matrix Development Group today announced two new office leases and four renewals totaling 49,007-square-feet at The Plaza Complex – a 9-acre mixed-use development in the heart of New Brunswick’s Redevelopment Area and Urban Enterprise Zone.
UMDNJ Behavioral Health, a division of Robert Wood Johnson Medical School, signed a 15,129 square foot lease at Plaza I, a free-standing 100,000 square foot office building located at 303 George Street. The renewals at the building are:
- New Solutions, a healthcare management consulting firm, which inked a 5,553 square foot renewal; and
- Magna Care, a health care management company, which signed a 2,375 square foot lease.
Dittman Incentive Marketing signed a 10,159 square foot lease at Plaza II, a five-story, 110,000 square foot building located at 317 George Street. The renewals at the building are:
- Central Jersey Legal Services, a pro bono law firm for low income residents, which inked a 8,538 square foot renewal; and
- Hyacinth Foundation, New Jersey’s first AIDS service organization, which signed a 7,123 square foot lease.
“The Plaza Complex has become an important part of the New Brunswick community, serving the needs of residents, businesses and students,” said Felicia Arias, Matrix Development Group leasing manager. “With distinguished tenants like Johnson & Johnson, Robert Wood Johnson Medical Center and Rutgers University, the mixed-use complex is an integral part of city’s continuing revitalization. We are pleased that Plaza I & II continue to attract exceptional tenants with a commitment to the New Brunswick community.”
A public-private partnership between Matrix and the New Brunswick Development Corporation resulted in a $125 million mixed-use development at The Plaza Complex, which includes 417 luxury apartments, 6,500 square feet of complimentary retail and a 650-space parking garage. Plaza I features open and flexible floor plan configurations, which can be adapted to specific tenant requirements. Plaza II, designed by renowned architect I.M. Pei, features a reflective glass exterior façade. Matrix has invested significant capital resources in both buildings for extensive lobby, common area and façade renovations.
The Plaza Complex is immediately accessible to Route 18, Route 27, Route 1, and Exit 9 of the New Jersey Turnpike.
About Matrix Development Group
Matrix Development Group is a privately held, full-service real estate investment and development company with offices in New Jersey and Pennsylvania. The Company is active in the commercial, industrial, urban, residential, golf and hospitality markets throughout the Northeast and mid-Atlantic regions. Since its founding in 1979, the Company has developed real estate valued in excess of $1 billion and has been recognized for its leadership by numerous charitable, community and real estate organizations.
For more information on Matrix Development Group, please contact the Company’s Cranbury, New Jersey office at (732) 521-2900 or visit www.matrixcompanies.com.