McKinsey has brought more than 700 employees to Ironside Newark to consolidate its workforce in New Jersey
Global consulting firm McKinsey & Co. Bringing more than 700 employees from New Jersey to a new office in Ironside Newark.
The plan, first reported by Real Estate New Jersey, involves the company bringing its employees at its Summit and Jersey City offices to Ironside, the Edison Properties building located next to Mulberry Commons and below the Prudential Center.
This move is expected to take place in the second half of 2024.
Jeff Lewis, McKinsey’s senior partner in New Jersey, said the move makes sense for a number of reasons.
“We want to invest where it matters,” he told Real Estate NJ. “We think Newark is important to New Jersey. It’s the largest city in New Jersey and represents entrepreneurship, resilience and diversity. It’s an environment we want to be a part of for our next chapter overall, and we want to bring our community together.”
Newark’s mass transit network, highway connectivity and accessibility to local, regional and global destinations were a factor in the decision, Lewis said. As was the city’s vibrant business community.
“It is a vibrant city,” he added. “I think it has an exciting value proposition to our colleagues for what we do — to be an integral part of the business community, to be an integral part of the campus community, to be surrounded by amenities and to be part of the city’s continued growth story. I think all of those are parts Exciting value proposition for our colleagues.”
The consulting giant will be among the newest tenants at Ironside Newark, a historic warehouse that Edison Properties has restored and repurposed into 456,000 square feet of office and retail space.
The building houses the North American headquarters of Mars Wrigley Confectionary, as well as architecture firm Ware Malcomb, and law firms Pearlman & Miranda, Robinson Miller and Edison Properties, all of which benefit from its location.
This location will only improve when the recently announced bridge connecting Mulberry Commons to Newark Penn Station and Ironbound is completed, likely in the first quarter of 2025.
McKinsey established its offices in Jersey City in 2008 and in Summit in 2012. Lewis said the move will help the company create a more future-proof workplace.
“Both of our offices were designed more than a decade ago, and the idea is to design the space for the way we work today,” he said. “We have historically had a very hybrid type of culture because a large number of our colleagues work at client sites and have always done so.
“So, this will create the opportunity to work remotely, work on customer sites, work with customers at our site and continue what we’ve always done.”