Last year, offshore wind energy company Ørsted announced it would set up shop in the state’s largest city. Now, we know where.
The firm behind the 1,100-megawatt Ocean Wind project off the coast of Atlantic City and the 1,148-megawatt Ocean Wind 2, which will be developed adjacent to the first project, announced March 31 it will occupy a portion of the second floor at Ironside Newark in the building’s namesake city.
Ørsted worked with Edison Properties, the company behind the more than 456,000-square-foot property that is already home to tenants including Mars Wrigley and architecture firm Ware Malcomb, to secure a long-term lease for 8,200 square feet at the property located at 110 Edison Place.
According to the company, approximately 20 employees will work from the location.
“Leading companies, like Ørsted North America, are attracted to Ironside Newark due to its central location in downtown Newark, unparalleled amenities and access to outdoor space,” said Edison Properties Senior Vice President of Leasing Lenny Lazzarino in a statement. “As Newark continues its come back from the pandemic and garners more attention as an emerging technology hub, Ørsted’s presence will further solidify the downtown neighborhood as a vibrant, desirable location for industry-leading companies.”
Newark Mayor Ras Baraka echoed those sentiments, highlighting the city’s growth as a hub for sustainability and tech companies, and the part Ironside Newark and Edison Properties are playing to help “usher the city into a new chapter post-pandemic.”
And that commitment to sustainability runs through Ironside Newark, the property, as well. “We are excited to have Ørsted, one of the leading sustainability companies in the world, choose Ironside Newark to help them grow their renewable energy initiatives. Edison’s adaptive re-use of 110 Edison into a state-of-the-art energy efficient office building was a perfect fit,” added Tim Greiner, executive managing director at JLL, which served as the landlord’s broker representative in the transaction together with Newmark Managing Director Harrison Russell.
Directly adjacent to Newark Penn Station, Ironside Newark was formerly a circa-1907 warehouse; it’s since been redeveloped and restored by Edison Properties to accommodate commercial and retail space.
“New Jersey has established itself as a national leader in clean energy, innovation, and offshore wind, which makes it an ideal location for Ørsted Offshore North America to headquarter our Digital Hub,” said Ørsted Offshore North America CEO David Hardy. “We’re excited to put down roots in Newark as we continue to develop our offshore wind projects Ocean Wind 1 and 2, bringing renewable energy to more than 1 million New Jersey homes.”
Gov. Phil Murphy praised the move, saying it puts Ørsted — “a major part of New Jersey’s clean energy transformation” — in the center of the state’s business community. He also called attention to the new tenant’s neighbors. “Ørsted’s positioning in Newark puts them … close to critical partners such as PSE&G, with whom we are also collaborating to reduce New Jersey’s dependence on fossil fuels and to eliminate greenhouse gases,” he said.
Editor’s note: This story was updated at 8:56 a.m. EST on April 1, 2022, to include that Newmark’s Harrison Russell served as the landlord’s broker representative in the transaction together with Tim Greiner of JLL ; and to include the number of employees Ørsted will house at the location.