Two Riverfront Plaza Sold in Newark, NJ

Two Riverfront Plaza, Newark, NJ

NEWARK, NJ—SJP Properties and Matrix Development have sold Two Riverfront Plaza in Newark, NJ. An international entity advised by Arch Street Capital Advisors acquired the property, which is fully leased on a long-term basis to Panasonic Corporation of North America for the electronics company’s US headquarters.

“When we built this trophy office building three years ago, we recognized that the Newark market was on the brink of an unprecedented transformation, and that our building would be at its forefront,” says Steven J. Pozycki, CEO of SJP Properties. “This sale reflects the unparalleled quality of this building – which resulted in tremendous interest among institutional-grade investors from all around the world – as well as Newark’s growing reputation as an established hub for global business. We’re extremely proud to have delivered a building that has helped to put this city on the radar of international investors.”