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Iconic Newark Property in Central Business District is Slated for Major Updates Throughout, Includes Fit-Outs for Emerging Tech Tenants
NEWARK, N.J., Dec. 14, 2017 – 33 Washington Street, a 450,000-square-foot office tower in downtown Newark, is in the planning stages for extensive renovations throughout all 19 floors and extending out to the street. The office tower was acquired in March 2017 by Berger Organization, a diversified real estate development and management firm headquartered in Newark.
The iconic property, built in 1970 for Horizon Blue Cross/Blue Shield, sits on 1.6 acres across the street from Washington Park in the James Street Commons Historic District, at the northern end of Newark’s central business district. It is now multi-tenanted by a range of leading companies, including those in the growing technology sector. The building has a fitness center, café, shared conference rooms and on-site parking; upper floors have views of the Manhattan skyline.
Planned renovations include:
- All new central systems – HVAC, elevators, lighting, security
- Updated lobby
- Digital signage kiosks
- A new streetscape
- Fit-outs for Newark’s emerging high tech tenant base
“The demand for Class A office space in Newark continues to grow and 33 Washington’s location and amenities make it a highly desirable address for companies that want to be downtown,” said Miles Berger, CEO of Berger Organization. “We are also very excited about new developments within the neighborhood and what those will mean for the city’s business community.”
The office building is surrounded by notable landmarks: Newark Public Library, John Ballantine House and the Newark Museum, which is also renovating its Washington Street entrance. It will soon reopen to the public after 30 years. Other redeveloped properties include a former and long-abandoned church on the block that is being redeveloped as a new high-tech facility.
In addition, a group of private business leaders are talking to the City about redeveloping Washington Park, similar to the renovations completed several years ago at Military Park, which contributed to renewed interest and high tenancy levels in office buildings there. The historic district is also being proposed by the City of Newark to Amazon for its HQ2 headquarters. 33 Washington Street has been suggested by the city as a potential site for office space for the first phase of Amazon’s HQ2 project.
33 Washington is just two blocks from the Newark Broad Street commuter light rail and a half a mile from Newark Penn Station, which connects travelers to midtown Manhattan in 21 minutes. It is also conveniently located to all major highways feeding in and out of Newark and into New York City.
Additional information is available http://www.bergerorg.com/commercial/33-washington-street/. Brokers and prospective tenants may contact Brendan Berger, VP Leasing, at (973) 623-3300 or firstname.lastname@example.org.