McCarter & English will move its headquarters a couple of blocks from its existing space at 4 Gateway Center here, where it has been for 15 years. The firm has been in existence since 1846 and based in Newark since 1864.

McCarter & English was represented in the transaction by John Powers, chairman of the tri-state region of CB Richard Ellis, along with Joan Meixner, David Sherman and Mark Trevisan of that firm's New York and New Jersey offices. The terms have not been released. However, according to Powers, "based on a demographic study we found that the best location outside of Newark was MetroPark. But McCarter is paying a premium over MetroPark, and a premium over market. They were willing to do that to stay in Newark."

"The significant growth of our firm, the ongoing consolidation in the legal marketplace and the location advantages of this city were the important elements in our decision," says McCarter chairman Drew Berry. "Our civic commitment to the city was a critical factor."