A builder's delay has erased McCarter & English's plan to move to a 14-story office-residential complex on Newark, N.J.'s waterfront in 2008 and is forcing New Jersey's largest firm to weigh the drastic option of leaving the city. McCarter's expected new home is not going to be ready until 2010, leaving the firm to negotiate a lease extension with its current landlord. But if faced with an unacceptable deal, Chairman Andrew Berry has said he could consider office locations outside Newark.
June 19, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A builder’s delay has erased McCarter & English’s plan to move to a grandiose new office-residential complex on Newark, N.J.’s waterfront in 2008 and is forcing the firm to weigh the drastic option of leaving the city.
Last September, the firm trumpeted plans to leave Gateway Center 4 near Newark’s Penn Station when its lease expires and move to larger quarters a block away in a 14-story tower planned by Matrix Development Group of Cranbury.
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