G reen B uildings

Real Estate Journal — Green Buildings — December 23, 2016 - January 12, 2017 — 21B


M id A tlantic

Project will restore 56 acres of Glen Cove’s waterfront, create 28 acres of public open space RXR Realty breaks ground on $1 billion Glen Cove Waterfront Redevelopment: Garvies Point G

vies Point that will benefit all of Glen Cove. We look forward to creating a waterfront that this great city will be proud of for generations to come.” “Today’s groundbreaking underscores the relentless pursuit of a new vision for the City of Glen Cove – a vision that celebrates the work of many city administrators, the Industrial Development Agen- cy, the Community Develop- ment Agency, Federal, State and County agencies with the patience and perseverance of our residents and businesses,” said Mayor Reggie Spinello. “This notable moment in Glen Cove’s history is reflective of a strong partnership with RXR Realty, a highly respected developer whose efforts to invest in Glen Cove’s economy and livability is critical to our City’s efforts to become a center of commerce for Long A 337,500 s/f, 12-story office tower designed to world-class standards, Two Riverfront Plaza was developed by SJP and Matrix for Panasonic in 2013. The building features technologically advanced infrastructure and leading environmental sustainabil- ity, having achieved LEED Platinum certification for its interior and LEED Gold certi- fication for its core and shell. The larger mixed-use project features a two-story lobby, 462-space parking garage, full-service bank, post office, sundry shop, café restaurant, 24/7 manned security and a direct-connection pedestrian skyway to Newark Penn Sta- tion and the nearby Gateway complex, as well as an addi- tional five acres of land avail- able for future development. “Since we acquired One Riverfront plaza, formerly ‘The Legal Center’, in 2001 and subsequently acquired the land now home to Two Riverfront Plaza, Matrix has on the radar of international investors.”

Island’s North Shore.” The transformative project, which received approval for its funding in August, will restore 56 acres of Glen Cove’s water- front to productive use, creat- ing a vibrant, public expanse with parks, playgrounds, es- planades, marinas, an amphi- theater, dog park and more than 1,100 residences. ABOUT THE PROJECT Garvies Point is a $1 billion mixed-use plan to restore 56 acres of Glen Cove’s wa- terfront to productive use, with 1,110 LEED-certified residential units, 75,000 s/f of shops and restaurants, ap- proximately 28 acres of public open space and amenities, and on-site parking. The project represents the culmination of a 20-year, $120 million effort to create the most livable, sustainable Glen Cove in a century. n been a believer and investor in Newark's ability to serve as a premier destination for global businesses like Panasonic,” said Joseph Taylor , CEO of Matrix Development Group. “We've been extraordinarily pleased to partner with SJP Properties to develop this best-in-class headquarters facility, and are now excited that CBRE has identified a top investor that recognizes this asset’s superior market position.” The CBRE team of Jef- frey Dunne , Darcy Stacom , Kevin Welsh , Brian Scott and Brian Schulz of CBRE Institutional Properties, in collaboration with Dudley Ryan of CBRE’s East Bruns- wick office, represented SJP Properties and Matrix Devel- opment Group in the sale of Two Riverfront Plaza. “The sale of Two Riverfront Plaza demonstrates the con- tinued demand for premier office assets in urban lifestyle environments with mass tran- sit connectivity, such as New- ark,” Dunne said. n

LEN COVE, NY — Glen Cove will soon be Long Island’s newest destination city. After decades of preparation and planning, the $1 billion effort to reclaim Glen Cove’s waterfront for the community is officially under- way as RXR Realty broke ground on the long awaited Garvies Point development. The project is a partnership between RXR Realty and the City of Glen Cove. Glen Cove Mayor Regi- nald Spinello, public officials, business and civic leaders, executives from RXR Re- alty, and dozens of Glen Cove community members came together at the site to launch the approximately 5-7 year construction process. The first phase, including 28 acres of public open space and ameni- ties, is expected to be complete in 2018. NEWARK, NJ — SJP Properties and Matrix De- velopment announced the sale of Two Riverfront Plaza in Newark. An international entity advised by Arch Street Capital Advisors, LLC ac- quired the world-class prop- erty, which is fully leased on a long-term basis to Panasonic Corporation of North America, and serves as the electronics company’s U.S. headquarters. “When we built this trophy office building three years ago, we recognized that the New- ark market was on the brink of an unprecedented transfor- mation, and that our building would be at its forefront,” said Steven Pozycki , CEO of SJP Propertie s. “This sale reflects the unparalleled qual- ity of this building – which resulted in tremendous inter- est among institutional-grade investors from all around the world – as well as Newark’s growing reputation as an es- tablished hub for global busi- ness. We’re extremely proud to have delivered a building that has helped to put this city

Garvies Point waterfront rendering

“Today’s groundbreaking is a milestone for the City of Glen Cove more than 20 years in the making,” said Scott Rechler , chairman and chief executive officer of RXR Realty, which is headquar- tered in Uniondale. “What has long been a hope of the Glen Cove community -- a vibrant,

publicly-accessible waterfront -- will soon become a reality. We are grateful for the sup- port and collaboration of the City – particularly Mayor Spinello – the County, local businesses, community orga- nizations, civic leaders and residents who together have helped create a vision for Gar-

SJP Properties and Matrix Development announce the sale of 337,500 s/f Two Riverfront Plaza in Newark, NJ

8160 Maple Lawn Blvd.

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