Matrix Development Group Announces 68,725-Square-Foot, Full-Building Lease with NJSDA at at 32 East Front Street in Trenton
Matrix Development Group, one of the Northeast’s most active and well-regarded real estate investment and development companies, today announced that the New Jersey Schools Development Authority (NJSDA) has signed a lease to occupy the entirety of 32 East Front Street, a 68,725-square-foot Class A office building in the heart of downtown Trenton, N.J. The NJSDA previously occupied 21,666 square feet on two floors in the freestanding, five-story building.
The lease enables the NJSDA to consolidate its operations into one, modernized location that is situated within walking distance to many of the city’s top amenities, including numerous restaurants, shops, entertainment and cultural attractions.
In 2005, Matrix was selected by the City of Trenton’s Economic Development Corporation to assume responsibility for finishing construction of 32 East Front Street as part of the City’s ongoing efforts to redevelop its downtown district.
“We take pride in our company’s long-standing history contributing to the revitalization of the state’s urban centers, and are very pleased to build on our relationship with the NJSDA by accommodating their space requirements now and into the future,” said Matrix President and Chief Executive Officer Joseph S. Taylor.
Located between Broad and Warren streets, the building offers immediate access to Route 1, Route 29 andInterstate 295, and is adjacent to a new, state-of-the-art parking garage, providing ample parking accommodations. The Trenton Marriot Downtown, Mercer County Courthouse, Capital Center complex and numerous state agency offices are located within the immediate neighborhood surrounding the building.
The property has earned a host of awards and distinctions including the Energy Star award for energy performance, New Jersey Business magazine’s prestigious Good Neighbor Award, and the Office Building of the Year Award (TOBY) from the Building Owners and Management Association (BOMA) New Jersey chapter.
The NJSDA manages and fully funds projects in 31 districts.The current portfolio of active projects is valued at over $2 billion, and includes the 2011 and 2012 Capital Project portfolios, additional construction projects, emergent projects and Regular Operating District grants.
Matrix Development Group
Matrix Development Group is a privately held, full-service real estate investment and development company with offices in New Jersey and Pennsylvania. The company is active in the commercial, industrial, urban, residential, golf and hospitality markets throughout the Northeast and mid-Atlantic regions. Since its founding in 1979, the company has developed real estate valued in excess of $1 billion and has been recognized for its leadership by numerous charitable, community and real estate organizations.
For more information on Matrix Development Group, please contact the company’s Cranbury, N.J., office at 732-521-2900 or visit www.matrixcompanies.com.