NEW BRUNSWICK, NJ-New Brunswick Development Corp. and Pennrose Properties have named the Marketing Directors the exclusive marketing, sales and leasing agent for a $150-million mixed-use tower to be completed in 2012.

Temporarily named Gateway Transit Village, the 24-story building will be the city’s tallest with the first 10 stories consisting of 57,000 square feet of retail space, 57,500 square feet of commercial space and a 657-vehicle parking garage. Atop the commercial space will be 14 stories of residences, consisting of 150 rental apartments and 42 condominiums. A public space with outdoor seating also is included. The complex is adjacent to the New Brunswick train station.

“The project is located right in the heart of New Brunswick,” notes Jacqueline Urgo, president of the Marketing Directors, New York City. Already leased are a Barnes & Noble College Bookstore for Rutgers University, offices for the New Brunswick Parking Authority and Starbucks. Asking office rents in the downtown area around $24 per square foot to $27 per square foot, according to LoopNet. A current downtown retail listing is asking for $27 per square foot.