Paramount Assets announced it brought a 14-megawatt on-site power substation online at its 375 McCarter Highway office building in Newark, transforming the downtown commercial property into a high-power facility uniquely positioned for data centers, AI server environments, and financial services infrastructure.
The newly activated infrastructure delivers power equivalent to the needs of roughly 10,000 to 12,000 average U.S. homes, bringing massive power directly to an urban downtown core just 12 miles from Lower Manhattan.
“Having a 14 MW substation online in the heart of downtown Newark is highly distinctive,” Maurice Levy, a principal of Paramount Assets said. “Most buildings of this type simply cannot offer this level of power. The 375 McCarter Highway building is now a strong, ready-to-go location for financial services firms needing secure on-site server capacity, data center operators seeking edge or enterprise space, and other organizations whose operations require reliable high-power infrastructure.”
The 150,000-square-foot building currently features approximately 50,000 square feet of available space alongside an additional pad site for expansion. Fully zoned for data center operations and ancillary uses, the property is also adjacent to both robust metro and long-haul fiber networks, ensuring high-speed local and regional data transmission.
Built in 1979 and thoroughly renovated, the 3.2-acre property sits at the southern gateway to Newark with prominent frontages on both McCarter Highway and Broad Street. Key asset features include:
- Connectivity: Minutes from Newark Penn Station, Newark Liberty International Airport, the Port of Newark, the New Jersey Turnpike, the Garden State Parkway, and major local routes.
- Security & Parking: 24/7 on-site security and 428 on-site parking spaces.
- Established Tenant Roster: The building already houses prominent organizations, including State of New Jersey offices, DashMart by DoorDash, E-ZPass, Gopuff, and Concentra Urgent Care.
With power constraints emerging as a major bottleneck for tech and financial sectors, 375 McCarter Highway provides an immediate, plug-and-play solution for power-intensive tenants looking to anchor themselves within the Northeast urban corridor.
