C&K launches Incentive Concierge Program at 2 Gateway Ctr. in Newark

C&K Properties launched a program designed to help real estate professionals and business owners realize the full benefits of the Economic Opportunity Act of 2013 in relocating a business to 2 Gateway Center, C&K's class A office tower in the heart of Newark's Central Business District. Through 2 Gateway's Incentives Concierge Program, companies and brokerage professionals can obtain a free, customized analysis of the cost savings for prospective tenants of relocating to 2 Gateway Center under the Act's new Grow NJ program. C&K has partnered with business attorney Ted Zangari, a member of the powerhouse law firm Sills Cummis & Gross, who will lead the concierge service's customized incentive analyses. Zangari, who serves on the Board of Directors of the New Jersey State Chamber of Commerce as well as the Newark Alliance, was instrumental in crafting incentives legislation on behalf of a broad-based business and labor coalition that became the starting point for the Economic Opportunity Act. "Given his role as a stakeholder, Ted has an understanding of this complex piece of legislation that is unmatched in the state," said Ben Korman, co-founder and principal of C&K Properties. "Ted will be able to provide a top-notch service to 2 Gateway's prospective tenants and the brokerage community in helping them navigate the Grow NJ incentive program." The Economic Opportunity Act of 2013, passed in September, is widely regarded as the single most significant piece of business incentive legislation in the New Jersey's history. The Act combines the four existing state incentive programs for attracting and retaining businesses into a single transformative program: the Grow New Jersey Assistance Program (Grow NJ). "In just the first few weeks since its enactment, it's clear that the new Grow NJ incentive program offers enormous savings for businesses seeking to relocate to urban transit hubs," said Zangari. "The challenge for us is to make these benefits easily understandable and accessible to businesses early in their site selection process, and that's the goal of the 2 Gateway Incentives Concierge Program." As a result of 2 Gateway Center's unique location - within yards of a major public transportation node in one of nine urban transit hub cities -- businesses seeking to bring new jobs or relocate existing ones to the tower are eligible for a number of bonus amounts in the Grow NJ award formula. In total, these incentives can reach $60,000 to $120,000 per employee. "This particular building is perfectly positioned to benefit from the new incentives program," said Dudley Ryan, Senior Vice President at CBRE, the exclusive leasing agent for 2 Gateway. "New tenants at 2 Gateway will likely trigger enough bonus incentives to effectively occupy Class A space rent-free for ten years in one of the State's hottest markets." Standing 18 stories tall along Market Street between McCarter Highway and Mulberry Street, 2 Gateway Center offers 3,000 square feet to 360,000 square feet of ready-to-occupy Class A office space. As part of Newark's Gateway complex, the building is connected via a pedestrian skywalk directly to Newark Penn Station. The station offers access to NJ Transit, PATH and Amtrak lines, and is only 18 minutes from New York City and 10 minutes from Newark International Airport. And, situated in the heart of the Downtown Arts District, 2 Gateway is only a short walk away from Newark's Prudential Center, NJ Performing Arts Center, and all of the City's exciting dining and entertainment options. Tenants of 2 Gateway Center also have access to a wide array of on-site amenities including a fitness center, banking facility, café, and conferencing center.