1 West State St. in Trenton — Courtesy: Segal LaBate Commercial Real Estate
By Joshua Burd
A technology consulting firm has acquired a historic 78,000-square-foot bank building in Trenton, with plans to reposition the property as a hub for innovative businesses.
Segal LaBate Commercial Real Estate, which brokered the deal, recently announced the sale of 1 West State St. to Maestro Technologies Inc. The new owner was slated to occupy about half of the building and is now marketing the remaining space in conjunction with the brokerage.
Maestro CEO Kamal Bathla, who calls the building an “innovation hub,” said the property has been renovated to be an “up-to-date building ready for all modern technology needs.” The newly branded SMART Applications Innovation Center has already began its community collaboration by partnering with Mercer County Community College to provide paid internships and professional training to local students.
“Our group will leverage our experiences and network to support startup, small and midsize businesses in Trenton and the surrounding communities,” Bathla said.
Segal LaBate Commercial Real Estate President Anne LaBate called the building a “special project” for her Trenton-based firm, adding that she is “excited to continue working with Maestro to attract diverse businesses and new energy in downtown Trenton.”
Maestro Technologies Inc. is a big data solutions, services and products firm specializing in business analysis, account management and web security, Segal LaBate said. In March, the seven-year-old tech business was awarded a 10-year, $17.36 million tax credit package from the state Economic Development Authority in conjunction with a plan to consolidate multiple offices in Trenton and create more than 140 new jobs.
Segal LaBate said open office spaces at 1 West State St. are available for lease.
