Case Studies

Government Leasing and Construction

• Acquired the leasehold interest in the fully occupied Centre Market Building in the 1950’s
• In the early 1990’s KJ embarked on a redevelopment plan to reposition the property for Federal Government tenancy
• Centre Market is now occupied by three separate Federal Agencies (92% of GLA)
• The tenants have invested more than $37 M for KJ to build out specialized amenities including 40,000 SF of lab space and an indoor gun range
• In 2006, with 7.5 years remaining on the land-lease, KJ negotiated a below market price to acquire the land beneath Centre Market from the City of Newark