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TRENTON-The New Jersey Schools Development Authority has signed a lease for 15,204 sf at 32 E. Front St., bringing the 66,500-sf, Matrix Development Group-owned office building to 85% occupancy. The signing leaves a block of 10,000 sf still available. Terms were not released.

“The Authority needed additional space to relieve cramped conditions at its W. State Street headquarters,” says Scott Weiner, NJSDA’s CEO. “The corporate environment, proximity to our existing headquarters and continued access to many amenities were an excellent fit for us.”

The first new office building Downtown in many years, 32 E. Front sits on a site acquired by Matrix in 2005 after a previous planned development stalled. In early 2006, Wachovia moved its regional headquarters into the top three floors of the building.

“We are pleased that 32 E. Front St. continually attracts tenants such as Wachovia Bank and the NJSDA,” says Matrix VP Russell Tepper. The NJSDA manages and funds projects in 31 special-needs school districts throughout the state. To date, it has completed more than 450 projects, including 41 new schools and 28 major renovations and expansions, and has distributed $2.2 billion in grants.

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