MATRIX DEVELOPMENT GROUP SIGNS OVER 150,000 SQUARE FEET OF LEASES THROUGHOUT ITS NJ URBAN OFFICE PORTFOLIO
CRANBURY, NJ (November 27, 2007) – Matrix Development Group, one of New Jersey’s most active urban developers, has recently closed in excess of 150,000 square feet of leases in its multi-property urban portfolio throughout New Jersey.
These Class-A office properties are all situated in prime markets throughout the state including Trenton, New Brunswick and Newark.
Trenton: At 32 East Front Street, a mixed-use, five-story Class-A office building, the New Jersey Education Development Authority leased 15,204 square feet. Located between Broad and Warren Streets, 32 East Front Street is a prime location with immediate access to Route 1, Route 29 and Interstate 295. The building has attracted significant tenant interest with its quality space and location and is the recipient of New Jersey Business magazine’s Good Neighbor Award for improving the landscape and economy in New Jersey.
New Brunswick: At The Plaza Complex, a 9-acre, mixed-use development in the heart of the city’s Redevelopment Area and Urban Enterprise Zone, two new lease agreements were signed with UMDNJ Behavioral Health, a division of Robert Wood Johnson Medical School, and Dittman Incentive Marketing. The two new leases total 25,288 square feet. Also at the Plaza Complex, recent transactions include renewals with New Solutions, Magna Care, Central Jersey Legal Service and Hyacinth Foundation, totaling 23,589 square feet.
Newark: At One Riverfront Center, a 20-story Class-A office building, known as the “Legal Center,” new leasing and renewed leases account for 86,127 square feet of space for tenants including: Patton Boggs LLP; McManimon & Scotland, LLC; STV Incorporated; Everest Technology Group; URS Corporation; HDR Engineering; LeBoeuf, Lamb, Greene & MacRae, LLP; PMA Consulting; and Winston & Strawn LLP.
“Matrix Development has a long history of investment and leadership in the urban marketplace,” said Hilary Budny, vice president of Matrix Development Group. “Matrix is extremely well positioned to meet the increased market demand for New Jersey’s urban centers. We are dedicated to providing quality space to our tenants and plan to continue to invest in new opportunities throughout New Jersey’s cities.”
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.