NGKF named exclusive leasing agent for Newark office tower

Three Gateway Center, Newark, NJBy Eric Strauss
NJBIZ – April 24, 2015

Newmark Grubb Knight Frank has been named exclusive leasing agent for Three Gateway Center in Newark, it said Friday.

The Class A office tower is owned by Rugby Realty Co., which acquired it in December. NGKF’s Tim Greiner, executive managing director; Hope Brodsky, managing director; and Harrison Russell, associate, will handle the assignment out of the commercial real estate advisory firm’s Rutherford office, working in conjunction with Rugby Realty’s new chief operating officer and director of leasing, Rich Travaglini.

“This is an ideal property that will benefit from the growing demand from Manhattan tenants to relocate to a market where rental rates are about a third of what they are currently paying,” Greiner said in a prepared statement. “Ownership has also made it clear that it is invested in this property and its occupants, so potential tenants can expect an attentive, reliable landlord that values relationships and quality.”

The building, which is 47 percent occupied, is anchored by longtime tenant Prudential Financial, which recently committed long term to 160,000 square feet of space in the 483,809-square-foot building.

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