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Standard Chartered Completes Gateway Move-In

NEWARK-The London-based bank relocates about half of its New York City staffers across the river to the 45,000-sf space here.

By Eric Peterson | Updated on August 14, 2008

NEWARK-The London-based Standard Chartered Bank has completed its move-in at Two Gateway Center, bringing more than 300 administrative and back-office personnel across the Hudson River from the company’s Manhattan headquarters at One Madison Ave. The move completes a transition that began in early April when Standard Chartered signed a 10-year lease for 45,000 sf at the 18-story, 780,000-sf tower.

Other than the term length, further details of the lease were not disclosed. Availabilities at the building, now totaling just 12,000 sf, are currently listed with an asking price of $35 per sf. As reported by GlobeSt.com, the move across the river was related to Standard Charter’s $823-million acquisition of American Express Bank Ltd. from the American Express Co.

“With more and more businesses coming into our city, Newark is on the rise,” says Mayor Cory Booker, in a statement. “Standard Chartered Bank’s move to Newark is a validation of the efforts being made by [this administration] to create a vibrant downtown….”

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