TRENTON, N.J., March 18, 2009 – Cushman & Wakefield, Inc. has been named exclusive leasing agent for Vista Center, a major new development that quickly is gaining recognition for its unique financial incentives for users. Capital Real Estate Group will construct the 25-story, 700,000-square-foot tower adjacent to the Trenton Transit Center.
 
Joseph Sarno and Robert Dinner are leading the team out of Cushman & Wakefield’s Edison, N.J., office, working closely with Jon Marks, Michael Gordon and Jeremy Neuer. Roger McManimon of the firm’s Philadelphia office is working on the assignment as well.
 
Vista Center is ideally suited to large corporate users, with space divisible to 200,000 square feet. The building also will include 14,000 square feet of ground-level retail, a parking garage for more than 1,140 cars and two public art components – a plaza with a signature sculpture and lobby with a video art installation.
 
According to Dinner, perhaps the most exciting part of the Vista Center project is the unique combination of financial incentives it offers for users. “This is the first office building in Trenton to be qualified under the State’s new Urban Transit Hub Tax Credit, landmark legislation that provides major tax breaks to employers with 250 or more employees who locate in certain neighborhoods,” he said. “The credit can potentially subsidize the full amount of a tenant’s rent.”
 
The Urban Transit Hub Tax Credit program allows tenants to take a credit against their New Jersey Corporate Income Tax equal to the entire project capital costs in equal installments over 10 years. Vista Center also is located in an Urban Enterprise Zone, offering further advantages for tenants – including credits for certain new hires, unemployment insurance discounts and sales tax exemptions on supply and equipment purchases. Utility discounts also are available under PSE&G’s urban area rate program.
 
“This project also will set benchmarks in access and sustainability,” Sarno noted. “There is nothing else like it in the region.”
 

The Trenton Transit Center, a new, modern facility in the final phase of a $80 million renovation program, is the second busiest train station on New Jersey’s Northeast Corridor, which runs from Boston to Washington. “The station is a major hub along the Northeast Corridor, served by NJ Transit, AMTRAK, SEPTA and the NJ Riverline,” Sarno added. “The combination of four train lines and a location seconds from U.S. Route 1 provide exceptional connectivity to the region’s workforce.”
 
The project is targeting a LEED Platinum certification by the U.S. Green Building Council – the highest sustainability rating offered – which would make it the first Platinum office tower located directly at a Northeast Corridor hub.
 
Vista Center has been designed to increase employee productivity. The floor plans and high ceilings will bring daylight deep into the building, low-VOC interior finishes will create healthier air quality for occupants, and a high-performance air distribution system will optimize indoor environmental quality.
 
Other sustainable features will include roof-mounted PV installation to generate renewable energy and reduce common area charges; energy-efficient lighting with daylight dimming to lower electric bills; and high-performance façades with low-e glazing to reduce heating and cooling expenses. Additionally, storm water collected from the roof will be diverted to a bios wale and rain garden, and indigenous landscaping will reduce the need for permanent irrigation. Capital Real Estate Group will incorporate building materials with a high percentage of recycled content as well.
 
RMJM designed Vista Center to create a strong, iconic image for Trenton with inviting public spaces that would draw people from the train station. The building’s slender profile, as it wraps around the site, will give it a monumental, elegant appearance. Vista Center will sit within walking distance to Trenton’s historic neighborhoods, offices and cultural facilities. The tower and plazas will effectively fill in the gaps around the train station and provide pedestrian pathways to the surrounding neighborhoods.
 
“This is the only project of its kind for companies that qualify,” noted Daniel R. Brenna, Jr. of Capital Real Estate Group. “Vista Center will enable corporations and partnerships to upgrade to the best workspace available, enjoy incredible rail and highway access for employees, increase worker productivity and reduce occupancy costs to zero. We have assembled a world-class team to move this first-class project forward, and we are pleased that Cushman & Wakefield – a firm known for its quality and expertise – is heading the marketing component.”
 
“Given today’s economy, Vista Center is a bright spot for Trenton and the New Jersey corporate community,” noted Sarno. “The first tenants to make commitments here will be key, and they will have the opportunity to impact final design elements, building systems and other construction features to be virtually custom planned for their specific use.” He added that from the start of construction, the timetable for delivery will be approximately 24 months.         
 

Media Contact:            Evelyn Weiss Francisco / evelyn@caryl.com / (201) 796-7788