New Jersey Gov. Mikie Sherrill is highlighting Prudential Financial’s continued commitment to Newark as the company prepares to reshape its office footprint after more than 150 years in the city.
“For 150 years, Prudential has called Newark home, and it’s building its next chapter right here,” Sherrill said in a post on X.
The governor said New Jersey’s workforce, infrastructure and communities remain important advantages for companies looking to grow, adding that her administration wants to attract new investment while keeping longtime employers in the state.
Prudential Plans to Sell Two Newark Buildings
Prudential is preparing to sell two of its three major office buildings in Newark, according to NJBIZ, as the company consolidates its operations.
Despite those planned property sales, Prudential says it is not leaving Newark. The company plans to maintain its headquarters in the city and continue operating from its newer
Prudential’s official corporate records continue to list its principal executive offices at 751 Broad Street in Newark.
More Than a Century in Newark
Prudential was founded in Newark in 1875 and has grown into one of the world’s largest financial-services companies.
Today, the company reports approximately $1.6 trillion in assets under management and operations in the United States, Asia, Europe and Latin America.
CEO Andrew Sullivan has emphasized that the company remains committed to Newark despite the planned real-estate changes. NJBIZ reported that Prudential has invested about $1.2 billion in the city over the years.
Sherrill Points to Business Retention
Sherrill used Prudential’s decision to remain headquartered in Newark as an example of her administration’s broader economic message: New Jersey should not only attract new companies but also retain major employers that already have deep roots in the state.
Her comments come as the administration promotes investment, housing development, infrastructure and workforce initiatives as part of its economic strategy.
For Newark, Prudential’s continued presence is particularly significant because the company has been closely associated with the city for generations, even as its physical office needs continue to change.
Sources: Prudential Financial, NJBIZ, Office of Gov. Mikie Sherrill
By NJ RADAR Team