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7/19/2023
New Jersey Transit officials have signed a 25-year lease on a building in Newark, New Jersey, to house the agency's headquarters.
The transit agency will move to Two Gateway Center, which provides a direct pedestrian connection to Newark Penn Station — the state’s busiest transportation hub, NJ Transit officials said in a press release. Employees will move into the space by the end of 2024.
NJ Transit's headquarters has been located at Penn Plaza East for 30 years and would require about $120 million in repair and renovation over the next six years. That amount and length of work would temporarily displace employees and significantly disrupt their working environment, NJ Transit officials said.
The new,407,000-square-foot location has been recently renovated. Under the lease, NJ Transit will have the option to expand or contract its physical footprint as needed. The up-to-date workspace will help the agency recruit and retain staff and enable consolidation of administrative employees from other locations, NJ Transit officials said.
“This new headquarters provides the modern office environment required to properly run the nation’s largest statewide transit system,” said NJ Transit President and CEO Kevin Corbett.
Two Gateway owner Onyx Equities has committed to providing $130 per square foot toward design and construction, valued at nearly $53 million.