The tenant will occupy 14,000 square feet of office above Whole Foods Market.
“Launch Pad’s co-working space will nurture new businesses and include them in the creative environment developing at Hahne & Co,” said Jon Cortell, vice president of development at L+M Development Partners. “As new businesses grow locally in this highly visible location, Launch Pad will aid in our goal of full local employment.
“While Launch Pad will directly create several jobs in Newark, hiring members of their team on the ground, we are eagerly looking forward to the hundreds of jobs to be created by the many companies that take up space here in downtown Newark. By creating an environment for small businesses and startups to develop and grow, Launch Pad will have a tremendous impact on the continued economic development of Newark — something we couldn’t be more excited about.”
The Hahne & Co building will be Launch Pad’s second location. The firm expects to announce three additional locations in different cities next year.
“Launch Pad is thrilled about the opportunity to take space at the historic and beautifully renovated Hahne & Co building,” said Chris Schultz, CEO of Launch Pad. “We look forward to fostering innovation and creating an inclusive business and creative ecosystem. Newark has incredible potential and is poised to attract more businesses and entrepreneurs from a wide range of backgrounds.
“This space, just minutes from New York City, will deliver gigabit-level bandwidth, prices well below Brooklyn and Manhattan and a capable and tech-savvy workforce to support our tenants. We are eager to be a part of the Newark community.”
Launch Pad said it expects its location at the Hahne & Co to open in February 2018.
The firm has announced plans to form an advisory council of Newarkers next week. The council, Schultz said, will allow for the firm to acclimate to Newark and begin to drive its network of co-workers so Launch Pad can become an integral part of the city from the point it opens.
Launch Pad was a $1 million loan recipient from the New Jersey Economic Development Authority’s Real Estate Impact Fund. The co-working firm will raise office occupancy at the Hahne & Co to 80 percent.