A rendering of the redesigned façade and entryway at Gateway One, part of a sweeping overhaul of the landmark Gateway office complex in downtown Newark — Courtesy: Onyx Equities LLC
By Joshua Burd
As it continues its overhaul of Newark’s Gateway Center, Onyx Equities has tapped Pierson Commercial as its leasing agent for what will be the complex’s redeveloped retail space.
With the new assignment, Pierson Commercial is marketing more than 100,000 square feet of dining and retail space at what’s known as the Junction at Gateway Center. That space is steps from Newark Penn Station and in the heart of the downtown, benefiting from what is typically more than 75,000 daily workers at the four-building, 2.3 million-square-foot office complex and the surrounding buildings.
Pierson Commercial’s Ryan Starkman will lead the assignment.
“As the retail anchor for The Gateway Center, the Junction is an extremely important — and highly unique — component forming the center of Newark’s reemerging business community and will play a vital role in New Jersey’s economic recovery,” said Matthew P. Flath, vice president of asset management at Onyx Equities. “We are thrilled to be partnering with the Pierson Commercial leasing team at the Gateway Center. Their vast experience in large-scale mixed-use and downtown retail redevelopment projects has already provided for a very structured and quick start of leasing activity. We look forward to bringing a new and exciting local, regional and national tenant retail mix to the biggest and most unique community asset and office complex in New Jersey.”
Onyx announced Tuesday that it has started construction of a new jewel box entryway that will serve as a two-story steel, aluminum and glass portal into Gateway’s upscale retail and dining options. The space will also have free access to Newark Fiber’s 10G network.
Central to Gateway’s retail component will be its distinctive network of pedestrian tunnels and sky bridges for commuters, which Onyx is also overhauling to attract retail, fitness, entertainment and dining opportunities. The firm is also opening the ground floor of Gateway One to street-facing retail for the first time in the building’s history.
Onyx leads the joint venture that acquired three of the four Gateway buildings in 2018 with plans to transform the complex, which stretches from Mulberry Street to Raymond Plaza West. Its partners include Garrison Investment Group LP, Taconic Capital Advisors LP and Axonic Capital LLC, with co-investment partner Prudential Financial Inc.
The team also recently invested $200,000 to install post-COVID-19 office repopulation measures and completed several construction projects during the pandemic, including the multimillion-dollar renovation of the Gateway One garage.
Onyx and Pierson Commercial also hope the new retail space will appeal to downtown Newark at large, which draws hundreds of thousands daily workers, students and visitors. Availabilities at the Junction range from 1,000 to 16,000 square feet and feature a new visually prominent floor-to-ceiling glass presence, Starkman said, adding that there are both exterior street-level and interior concourse-level opportunities.
Gateway One, which is adjacent to the Doubletree by Hilton, also offers a fitness box that is adaptable to entertainment or concert hall use, he said. Gateway Four offers small shop space opportunities ideal for food and beverage customers.
According to Starkman, construction on base building work is expected to be completed by late 2021.
“We are excited to be a part of such a transformative project in the heart of downtown Newark,” Starkman said. “Our goal is to curate a dynamic retail environment that not only services the office complex but connects the development to the remainder of the city, drawing patrons from Newark and the greater New York metro area.”