The Berger Organization adds 560 Broad Street to its Newark Portfolio
NEWARK, NJ — The Berger Organization has added 560 Broad St. to its Newark office portfolio. The firm acquired the 33,000 s/f, four-story building from Aetna Realty this summer; currently vacant, it is being marketed to full-building users.
Located between Lombardy and Fulton Streets, 560 Broad St. sits in the heart of Newark’s CBD, directly across the street from Washington Park. It is adjacent to The Berger Organization’s 570 Broad St., and proximate to the organization’s multiple office properties on Park Place. Constructed circa 1920, the building initially served as a car dealership and was designed with a two-story indoor gallery with clear floor-to-ceiling glass fronting on Broad Street. Berger will restore that original architectural feature by replacing the current black glass panels installed during a prior renovation. The company will also create a veranda extending across the connecting back yards of 560 Broad and 570 Broad. Tenants from both buildings will have access to the private, park-like outdoor seating area. The Berger Organization will build out the interior of 560 Broad St. to meet the specific needs of its occupant. “This is a building with great bones, right in our neck of the woods geographically,” said Miles Berger, chairman and chief executive officer of The Berger Organization. “The future tenant of 560 Broad will benefit from custom-designed space and all of the advantages that this neighborhood affords in terms of accessibility, culture and quality of life.” 560 Broad St. is located across the street from a Light Rail stop and within walking distance of Broad Street Station. By car the building offers easy access to I-78, I-280, the NJ Turnpike and Routes 1&9. It is just steps away from restaurants, hotels and new luxury high-rise apartments, along with arts district attractions including the Newark Museum, Newark Pubic Library, Prudential Center and the New Jersey Performing Arts Center, among others. Also within walking distance are the Newark campuses of Seton Hall and Rutgers universities and the New Jersey Institute of Technology. The Berger Organization is headquartered at Robert Treat Center (50 Park Place), which shares an address with the firm’s Best Western Robert Treat Hotel. The company’s other local office holdings include the Military Park Building (60 Park Place), 58 Park Place, and the Fireman’s Insurance Company Building (10 Park Place). The Berger Organization, a privately owned diversified real estate owner/manager, has been involved in the Newark office and hospitality market for four decades. The company purchased its first property there, the Newark Holiday Inn, on March 3, 1976, from New England Mutual Insurance Co. Since then, its principals’ deep appreciation for Newark’s rich history and personal, unwavering commitments to restoring New Jersey’s largest city to its past brilliance have led to concentrated real estate acquisitions and the employment of more than 300 local residents.