Onyx Equities has expanded its portfolio outside New Jersey, acquiring a 1.2 million-square-foot industrial complex about six miles north of Bergen County.
Newark Broad Street’s time to shine
Having started my commercial real estate career in Newark, New Jersey in the late 1980s, I’ve had a front row seat to the evolution of The Brick City, and specifically the strides taken by the community toward enhancing the soul of the downtown area. What was once a city centered largely around Newark Penn station, the region has experienced new growth, particularly northward and westward toward the Broad Street corridor. Additionally, while improvements over the past two decades were slow, but steady, the past five years have seen a more intense ramp up in activity.
A workplace to enjoy: Onyx details new amenities at Morristown building (RENDERINGS)
Onyx Equities is planning everything from an expansive dining area to a game room to a gym that will rival a high-end fitness club — all part of a project at 340 Mount Kemble Ave. in Morristown. They will be part of a long list of amenities at the 400,000-square-foot complex, which the firm acquired in 2016 and plans to reposition for new tenants.