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Kearny Point – Building 78 Extension

Kearny Point – Building 78 Extension

Type

Commercial/Office

Location

Kearny, NJ

Est. Project Cost

$21.7 million

Size

90,000 SF

Public Financing

New Market Tax Credit

Sponsor

Hugo Neu Corp

Private Financing

Opportunity Zone Equity

Closing Date

2019

Opportunity Zone, Historic Redevelopment and Adaptive Re-use

Development of annex extension to the existing Kearny Point Building 78. Project will offer flexible office space targeted to business that are working to develop and commercialize technologies and services that advance energy conservation, alternative energy, resiliency, storm water management and preservation and restoration of precious natural resources.

Estimated Economic and Social Impact

Over 300 jobs and 200 construction jobs. Flexible lease terms for small businesses.

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