Newmark announced a new 11.5-year, 9,000-square-foot lease at Crossroads Corporate Center, 3150 Brunswick Pike, Lawrenceville, N.J., with United Way of Greater Mercer County (“UWGMC”). The deal combined both imagination and generosity and will enable UWGMC to better serve the residents of Mercer County.
UWGMC is relocating its offices to Crossroads Corporate Center, owned by Gilbane. To make the transaction work for both sides, Gilbane structured the lease to include a front-loaded reduced rent period so that UWGMC could move out of its existing space early. This approach allows UWGMC to focus on what it does best: Support the community.
The idea was proposed by Newmark Managing Principal Thomas Romano, who represented both parties in the transaction along with Associate John Calvo. “I thought of only two landlords who would entertain a deal like this. As it turned out, United Way is Gilbane’s preferred charity, so it was a perfect fit,” Romano said.
“Not only do we gain a stellar tenant from this transaction, but we are also able to give back to the local community that has supported our property,” said Robert Gagliardi from Gilbane. “What a win-win scenario.”
“As a non-profit serving the Mercer County community, we place a premium on business relationships that enhance both the donor’s and our ability to deliver on our missions,” said Herbert Klein III, president & CEO of United Way of Greater Mercer County. “Gilbane, with its innovative offer, demonstrated the desire to support the community by structuring a lease that met both our needs. Both Gilbane’s and Newmark’s willingness to work with us made this deal possible.”
United Way of Greater Mercer County is a community-based organization that mobilizes local resources to meet health and human care needs in greater Mercer County. It utilizes the collective power of people to work toward long-term solutions in three focus areas: Helping Children Succeed (Education), Fostering Self-Sufficiency (Income), and Caring for Seniors and People with Disabilities (Health) For more information about United Way of Greater Mercer County, please call 609.896.1912 or visit www.uwgmc.org.
Gilbane is one of the largest privately held family-owned real estate development and construction firms in the industry. The company, founded in 1873, prides itself on its advocacy for its clients, employees and communities where it operates. This year, Gilbane was named one of Fortune Magazine’s “100 Best Companies to Work For” for the third straight year.
About Newmark
Newmark is one of the largest real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank together operate from more than 240 offices in established and emerging property markets on five continents. With a combined staff of more than 7,000 and revenues last year exceeding $993 million, this major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide. For further information, visit www.newmarkkf.com.
Newmark is a part of BGC Partners, Inc. (NASDAQ:BGCP), a leading global brokerage company primarily servicing the wholesale financial markets. For further information, visit www.bgcpartners.com.