More than 50 employees from the firm's Elizabeth office have relocated to 45 Academy St. Paramount Assets maintains satellite offices in Perth Amboy, Orange and Plainfield for an additional 25 staff members. Newark's transportation infrastructure, logistical efficiencies and proximity to a highly skilled workforce were among the factors behind Paramount's decision to move its operations to the Essex County city, says Richard Dunn, senior vice-president.

“We are thrilled to be part of the renaissance that's currently underway in Downtown Newark,” Dunn says. “Newark is the commerce capital of New Jersey and the epicenter of our property portfolio and redevelopment efforts. Establishing our headquarters here lends to our commitment as an organization to not only serve the urban centers of New Jersey, but allows us to better serve clients and provide a comfortable and convenient work environment for our employees. It's a great setting in which to grow our company, both now and into the future.”

Paramount's new offices are located on 45 Academy St.'s fourth and fifth floors. The space includes a rotunda skylight which serves as the focal point of a new company conference room; a newly constructed fifth-floor mezzanine takes advantage of soaring 19-foot ceilings. Additionally, more than 350 linear feet of architectural glass has been incorporated into the floor plan to create a clean, transparent workspace. Modern security measures have been incorporated as well and include CCTV (closed circuit television), access control systems and informational video boards.

45 Academy St. is situated near numerous public transportation options; hotels; a wide-ranging selection of restaurants and pubs; institutes of higher education; shopping; museums and art galleries; and world-class artistic and cultural entertainment venues. Situated eight miles from New York City, the building offers easy access by car to major thoroughfares including I-78, I-280, the NJ Turnpike and Routes 1 and 9.

Paramount Assets is a family-owned, regional, full-service real estate investment firm specializing in urban property ownership, management and development. The company's portfolio currently includes 3.1 million square feet of commercial, multifamily and mixed-use holdings across 25 New Jersey municipalities—including a growing foothold in the City of Newark.