PSEG Retains Newark Headquarters Until 2030

Law360, New York (July 25, 2012, 9:18 PM EDT) -- Public Service Enterprise Group, the operator of New Jersey's largest utility, has inked a deal to stay in its landmark 26-story downtown Newark tower until at least 2030, it announced Wednesday.

In a 15-year lease renewal, the company agreed to remain in the 1-million-square foot 80 Park Plaza building — owned by Wells Real Estate Investment Trust II — that has served as its headquarters since 1978.

As part of the lease, PSEG and Wells REIT II will be making infrastructure improvements that are expected to...
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