Firm Clients Celebrate Opening of Panasonic Headquarters

Firm clients SJP Properties and Matrix Development celebrated the opening of Panasonic's new North American headquarters in Newark with a ribbon cutting ceremony on Tuesday attended by Governor Chris Christie and Essex County Executive Joseph DiVincenzo.  The $200 million development project was aided by a $102.4 million Urban Transit Hub tax credit that helped lure the electronics giant from its former base in Secaucus, according to NJ Biz. Panasonic will occupy 10 floors in the 340,000-square-foot facility, which is a block from Newark Penn Station.  The firm's team in the Commercial Real Estate & Redevelopment Practice Group supported SJP and Matrix with counsel on redevelopment plans and agreements, and with identifying and securing public financing incentives and tax abatements for the project.