News
NEWARK STATE OF MIND
March 30, 2011
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| Newark is hopping more than Mayor Corey Booker's Twitter. The Berger Org purchased a controlling interested in partnership with 570 Broad Street LLC, and will manage and operate the 15-story, 200k SF CBD office building of the same name. The price was not disclosed, but The Berger Org chairman Miles Berger says the firm plans to reposition the building into a Class-A asset. It initially served as IBM’s NJ HQ and is now home to tenants including State Farm Insurance, Chase Manhattan, and Atlantic Federal Credit Union. Miles says that The Berger Org, which owns 1.5M SF in Newark (including 10, 50, and 60 Park Place), has seen 50% of its activity come from companies moving in from Manhattan and the NJ ‘burbs. And today, Tucker Development Corp broke ground on theCourtyard by Marriott at the Prudential Center (down the street at Broad and Lafayette), the first new hotel in Newark’s downtown in nearly 40 years. |
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| And speaking of the Prudential Center, we joined our friends at Cole Schotz for a New Jersey Devils game against the Washington Capitals recently, where we snapped firm associates Jason Finkelstein, Lauren Manduke, Lauren Rainone, and Glen Sproviero. Unfortunately, the law firm’s Baltimore office got thebragging rights that night, when the Capitals won 3-0. Will the Devils make up for it tonight against the Islanders? |
