The lobby of 2 Gateway Center in Newark — Courtesy: C&K Properties
By Joshua Burd
A global financial technology firm has opened the doors to its new 160,000-square-foot office in downtown Newark, now home to a divisional headquarters and some 1,100 of its employees.
Broadridge Financial Solutions, which provides communications, technology and analytics to the financial services sector, unveiled the new space at 2 Gateway Center on Monday after relocating from Jersey City. Executives with the company joined public officials to mark the occasion on the 14th floor of the 800,000-square-foot office tower near Newark Penn Station.
“We are excited to be in Newark and support the city’s revitalization as a fintech hub,” said Charlie Marchesani, president of global technology and operations for Broadridge. “The city and its location allows us to attract and retain top talent to drive innovation and solutions for our clients, helping them get ahead of today’s challenges to be ready for the future.
“We look forward to being an active and supportive member of a great community.”
In a news release, Broadridge said it selected Newark as for its Global Technology and Operations Division headquarters “after months of evaluations and exploration.” Its 160,000-square-feet lease with C&K Properties, the owner of 2 Gateway, was among the largest and most high-profile office deals in New Jersey last year, thanks in part to a 10-year, $23.4 million Grow New Jersey tax credit from the state Economic Development Authority.
The Lake Success, New York-based firm was awarded the incentive in exchange for a pledge to keep more than 550 full-time jobs from leaving the state. The deal was a major win for Newark, which has seen momentum in recent years tied to corporate growth and economic development.
At Monday’s ribbon-cutting ceremony, Newark Mayor Ras Baraka said the firm will “bring a wealth of fintech knowledge and talent to our city.”
“The economic revitalization of Newark is touching on every area – from the investments in eds and meds to the arts and even our new signature parks — and we will now welcome a leader in the financial tech industry,” Baraka said. “Broadridge’s move demonstrates that they appreciate and understand Newark’s renaissance and wish to be a part of this effort.”
At the time of last year’s lease, Broadridge was the first new major tenant to take advantage of 2 Gateway’s participation in Newark Fiber, which gives tenants access to commercially available fiber-optic internet access and provides the region’s fastest internet speeds at the lowest cost. The city and landlords have touted the access as part of its recent bid to attract Amazon’s blockbuster second headquarters project.
“Broadridge’s excitement, both to be a part of 2 Gateway and the broader Newark community, is palpable. They are an extraordinary addition to the Brick City,” said Kevin Collins, managing director of C&K Properties. “As a building owner, it is our commitment to provide the hands-on management and cutting-edge technological infrastructure that Broadridge requires in order to grow and thrive here in Newark.”
According to a description from the company, Broadridge provides investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Its investor communications, securities processing and managed services solutions are aimed at helping clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities.
