NJ Transit's plan to move from its current corporate headquarters at 1 Penn Plaza in Newark, shown here, to space at 2 Gateway Center will cost the agency $440 million for a 25-year lease of 8 floors at 2 Gateway Center.
NJ Transit will spend a whopping $440.4 million over 25 years to move roughly 1,600 employees from a building it owns to eight leased floors of office space in 2 Gateway Center in Newark, more than the $400 million initially projected under a deal approved on June 14.
An option to rent a total of 431,680 square feet could push that price higher, according to a contract with Onyx Equities obtained by NJ Advance Media through an Open Public Records request.
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