Onyx Equities LLC announced this week that it has reached an agreement with Axonic Capital LLC and Taconic Capital Advisors to become the asset and property manager and leasing and construction manager of One Gateway Center in Newark.
The 522,696-square-foot landmark building sits downtown next to Newark Penn Station.
“As the renaissance of Newark accelerates, Gateway Center will prove to be the single most important urban office complex in the state of New Jersey,” Onyx co-founder and Managing Principal John Saraceno said in a prepared statement.
Onyx’s repositioning team is planning out its vision for redeveloping the office building and renovating its concourse. The team is drawing inspiration from Onyx’s recent repositioning of 30 Montgomery in Jersey City, the firm added.
That waterfront building, at 30 Montgomery St., was repurposed with 1,800 replacement windows, a doubling of retail space from 6,000 square feet to 12,000, and more.
Onyx, based in Woodbridge, was founded in 2004.
Axonic and Taconic are investment firms based in New York.