Economic Development

New Businesses

Newark businesses are always evolving. 2022 brought a diverse group of great new businesses to our community—but you don’t have to take our word for it. Check them out the next time you pass by.

A man holding a sandwich wrapped in foil in front of Hobby's building.

Group of people in front of Gateway U holding scissors for the ribbon cutting ceremony.

Ashley's Delicious Treats — **Ashley’s Delicious Treats**
37 Commerce Street
Newark, NJ

**Élan Cafe**
87 Halsey Street
Newark, NJ

**Just Fish Bar & Grill**
27 Halsey Street
Newark, NJ

**SBM Management Services**
50 Halsey Street
Newark, NJ

**Brick City Pets**
9 Warren Street
Newark, NJ

**Gateway University**
35 Treat Place
Newark, NJ

Neighborhood Scoops NWK — **Neighborhood Scoops**
49 Halsey Street
Newark, NJ

**Swahili Village**
2 Center Street
Newark, NJ

**Bubbleology**
87 Halsey Street
Newark, NJ

Hax — **HAX**
707 Broad Street
Newark, NJ

Orale Wey Mexican Restaurant — **Orale Wey Restaurant**
244 Mulberry Street
Newark, NJ

**The Betesh Group**
110 Edison Place
Newark, NJ

**Craving Pizza & Chicken**
150 Halsey Street
Newark, NJ

Hobby's Delicatessen & Restaurant — **Hobby’s Delicatessen & Restaurant**
32 Branford Place
Newark, NJ

**PRE Real Estate Services**
28 Cherry Street
Newark, NJ

**Wakanda Place**
266 Mulberry Street
Newark, NJ

**Yiwan Ramen & Tea**
2 Center Street
Newark, NJ

The exterior of Élan cafe with a "Grand Opening" banner above the doors.

Fried chicken and mac & cheese from Madre and Son.

*Newark* is Her Canvas

For owner Lynette Lashawn, fashion is about confidence: it’s about color and, ultimately, about showing up for yourself. That attitude is rooted in her community.

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Embracing a *Bold Vision*

Roseann Smith joined Onyx in 2019 and quickly became acquainted with the NDD, becoming a board member—and a fan—three years ago. “I love NDD because of the community they foster,” she says.

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1180 Raymond Boulevard building in Newark. — Real Estate *Report*

Newark’s downtown commercial real estate operating fundamentals were mixed in 2022 with office and retail continuing to be affected by post-pandemic weakness. On the other hand, both multifamily and hospitality have recovered.

Newark Downtown Real Estate Operating Statistics

*Source: CoStar; NDD. * 2022 Q4 represents intra-quarter data; **Year-Over-Year (YOY); *** Revenue per available room. RevPar is monthly as of the quarter’s end.*

2022 Leasing Highlights

SOSV HAX Lease: SOSV signed a 37,752 square foot 10-year lease for its HAX startup at 707 Broad Street. SOSV formally announced that HAX has leased space at 707 Broad Street. HAX is SOSV’s hard-tech venture capital startup and has committed to take 100 companies through its program. It selected Newark for its affordable space and infrastructure available for large-scale engineering projects. Five of its startups also are housed at 707 Broad Street.

Betesh Group: infant and baby care products manufacturer – signed an 18,000 square foot 15-year lease at Edison Properties’ Ironside Newark.

SBM Management: facilities management provider – signed a 13,215 square foot 10-year lease at L+M Development Partners’ Hahne & Co mixed-use property.