Matrix Signs 49,000 SF of Leases

NEW BRUNSWICK, NJ-Matrix Development Group has signed two new office leases and four renewals adding up to just more than 49,000 sf at the company's Plaza Complex in this city's Downtown. The nine-acre mixed-use complex consists of two office buildings, more than 400 apartments, 6,500 sf of retail and a 650-space parking garage.

In the largest signing, UMDNJ Behavioral Health, a division of Robert Wood Johnson Medical School, took 15,129 sf at Plaza I, a 100,000-sf office building at 303 George St., according to Felicia Arias, leasing manager for the Cranbury-based Matrix. Renewals at the same building include New Solutions, a healthcare consulting firm, which re-upped for 5,553 sf; and Magna Care, a healthcare management firm renewed 2,375 sf.

The second new lease came in the form of Dittman Incentive Marketing, which took 10,159 sf at Plaza II, a five-story, 110,000-sf building at 317 George St. Renewals at the building are Central Jersey Legal Services, which re-signed for 8,538 sf; and the Hyacinth Foundation, an AIDS service organization, which signed for 7,123 sf.

Terms of the various signings were not released. Availabilities at the property are listed with an asking price of $22 per sf for Plaza I and $22.50 for Plaza II.

The Plaza Complex is the result of a $125-million public-private partnership between Matrix and the New Brunswick Development Corp. “It has become an important part of the community, for residents, businesses and students,” Arias says.