PSEG Expands HQ Space by 63,000 SF

NEWARK-The utility giant's long-term lease expansion brings the landmark 80 Park Plaza headquarters building to 100% occupancy. The asset is owned by Newark Urban Renewal Investors.

By Eric Peterson | Updated on December 14, 2001

NEWARK-Public Service Electric & Gas, one of the country’s largest utility companies and the sole corporate tenant at 80 Park Plaza, has signed a long-term lease for another 63,276 sf at the 1.1 million-sf asset. The lease expands PSEG’s headquarters presence at the Newark Urban Renewal Investors-owned property.

Sean Brady, Ed Duenas and Richard Baumstein of Cushman & Wakefield of New Jersey’s East Rutherford office, the leasing team for 80 Park Plaza, represented the owner in the transaction. C&W also manages the property. Bryn Cinque of GVA Williams of New Jersey in Parsippany represented PSEG. The latest lease encompasses all of the 24th and 25th floors.

Designed by Swanke Hayden Connell Architects and built for PSEG in 1980 by the Rockefeller Group, the 25-story 80 Park Plaza is located in Newark’s Penn Station neighborhood.

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