An investment manager has acquired a vacant hotel building in Newark that it now plans to convert to more than 100 apartments, according to a lender involved with the project.

The overhaul of Newark’s sprawling Gateway Center was on display last week as a development team revealed the new two-story, glass-encased lobby that will connect the streetscape to a planned 100,000-square-foot dining and retail concourse.

Lincoln Equities Group has broken ground on more than 330,000 square feet of speculative warehouse space in Bayonne, in the final piece of a highly touted 153-acre industrial park.