By Joshua Burd
The Berger Organization has acquired a 33,000-square-foot building in downtown Newark that it will renovate and market as a sister property to an adjacent office tower, the firm announced.
The four-story building, known as 560 Broad Street, sits between Lombardy and Fulton streets and is across from Washington Park. It is located next to Berger’s 570 Broad Street.
The Newark-based landlord acquired the building from Aetna Realty this summer, the firm said in a news release. Constructed around 1920, the building initially served as a car dealership and was designed with a two-story indoor gallery with floor-to-ceiling glass along Broad Street.
The panels are now black after a prior renovation, but as part of its plans for the building, Berger will restore the original clear glass, the news release said. The landlord will also create a veranda extending across the connecting back yards of 560 Broad and 570 Broad, which will give tenants from both buildings access to a private, park-like outdoor seating area.
Berger also will build out the interior of 560 Broad Street to meet the specific needs of its occupant, the news release said.
“This is a building with great bones, right in our neck of the woods geographically,” Miles Berger, chairman and CEO of The Berger Organization, said in a prepared statement. “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.”
The newly acquired building is located across the street from a light rail stop and within walking distance of NJ Transit’s Broad Street station. Its neighboring property, 570 Broad, is a 200,000-square-foot, 15-story tower at the corner of Fulton Street.