First Vice President Dan Casey will head the team and oversee the campaign on behalf of PAG Investments.

Newark Mayor Ras Baraka, South Ward Council Member John Sharpe James, and Ascension Capital Partners' Siree Morris and Ryan Curran – who purchased the land in 2017 – broke ground in the city’s South Ward on The Lofts at Avon.

The building is fully leased to UPS and serves as a truck maintenance facility and customer care center.

The property is 100 percent leased to six tenants.

Last year, the team arranged transactions totaling 8.3 million square feet.

The four properties are part of a multigenerational family estate.

The professional services firm plans to relocate its Parsippany operations.

The company joined forces with the founding members of real estate investment firm 3P Equity Capital Inc. to form PRC Capital Markets.

Patrick Jeffery was also added to the company's board of directors.

The firm will occupy part of the second and the entire third floor of the 75,049 square-foot office building.

“This is a planned transition to our leadership team,” the business's founder Richard Maser said. “I’m not reducing my commitment to the company and will continue seeking opportunities that will strengthen and provide long term stability while driving the company toward success.”