Nearly three years ago, Onyx Equities clinched one of the biggest real estate transactions ever in New Jersey when the firm purchased most of Newark’s Gateway Center complex. The office buildings were connected to Newark Penn Station and each other by a series of elevated concourses, many of which were lined with restaurants and stores.
But it was all separate from the city. Onyx promised to change that and undertook a significant renovation project. Then the pandemic hit and office buildings emptied out.
So, what’s been happening at the center of New Jersey’s largest city? NJBIZ recently spoke with Onyx Co-founder and Managing Principal Jonathan Schultz about the future of office work, the progress at Gateway and in Newark as a whole.
“COVID obviously stopped everything for a while, but I see an unbelievable change and how people are looking at now what work will be. And I see it slowly but surely picking up and occupancy is picking up,” he said. “Every company has a different way they’re going to look at it. Every division within a company is going to have a different way they look at it. But, all in all, I see a nice push forward on everyone getting back, reuniting with each other and it all moving forward in a positive way.”