In Newark: Panasonic’s U.S. Headquarters Sold For $165M, Report Says

NEWARK, NJ — The Newark building housing Panasonic’s U.S. headquarters has been sold, company officials say.

On Wednesday, SJP Properties and Matrix Development announced the sale of Two Riverfront Plaza in Newark. An "international entity" advised by Arch Street Capital Advisors LLC acquired the world-class property, which is fully leased on a long-term basis to Panasonic Corporation of North America and serves as the electronics company’s U.S. headquarters, according to a company news release.

The sale price? About $165 million, according to the Wall Street Journal, who identified the buyer as a "Kuwait-based investment fund."

A company news release stated:

“A 337,500-square-foot, 12-story office tower designed to world-class standards, Two Riverfront Plaza was developed by SJP and Matrix for Panasonic in 2013. The building features technologically advanced infrastructure and leading environmental sustainability, having achieved LEED Platinum certification for its interior and LEED Gold certification for its core and shell. The larger mixed-use project features a two-story lobby, 462-space parking garage, full-service bank, post office, sundry shop, café restaurant, 24/7 manned security and a direct-connection pedestrian skyway to Newark Penn Station and the nearby Gateway complex, as well as an additional five acres of land available for future development.”

Photo: Beckerman PR

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