TRENTON, NJ-The state Schools Development Authority has more than tripled its space at a downtown office building owned by Matrix Development Group, GlobeSt.com has learned.
The authority signed a lease to occupy the entire 68,725-square-foot building at 32 East Front Street, according to Matrix. It had previously occupied 21,666 square feet on two floors in the freestanding, five-story building.
The lease enables the NJSDA to consolidate operations in updated space within walking distance of restaurants, shops, entertainment and cultural attractions.
In 2005, Matrix was selected by the City of Trenton's Economic Development Corporation to assume responsibility for finishing construction of 32 East Front Street as part of the City's ongoing efforts to redevelop its downtown district.
“We take pride in our company's long-standing history contributing to the revitalization of the state's urban centers,” said Matrix president and CEO Joseph S. Taylor.
Located between Broad and Warren streets, the building has immediate access to Route 1, Route 29 and Interstate 295, and is adjacent to a new parking garage. The Trenton Marriot Downtown, Mercer County Courthouse, Capital Center complex and numerous state agency offices are located in the same neighborhood.
The property has an Energy Star award for energy performance, New Jersey Business magazine's Good Neighbor Award, and the Office Building of the Year Award (TOBY) from the Building Owners and Management Association (BOMA) New Jersey chapter.
The NJSDA manages and fully funds projects in 31 districts. Its current portfolio of active projects is valued at over $2 billion, and includes the 2011 and 2012 Capital Project portfolios, additional construction projects, emergent projects and Regular Operating District grants.
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