Broadacres Office Park at 1455 Broad St. and 200, 300 and 400 Broadacres Drive in Bloomfield — Courtesy: Newmark
By Joshua Burd
The owner of a well-known office park in Bloomfield has hired Newmark as its leasing team for the four-building, 395,000-square-foot property.
ERCT Property Management, which is based on site, acquired Broadacres Office Park under a joint venture announced last spring. It’s now working alongside Newmark Executive Managing Director Jeff Schotz, Managing Director Daniel Reider and Associate Peter Kasparian to bring new tenants to the complex, which includes 1455 Broad St. and 200, 300 and 400 Broadacres Drive.
“Newmark New Jersey’s landlord services professionals continue to win new leasing assignments by putting together teams with proven success in showcasing an asset’s best features,” Schotz said. “With approximately 70,000 square feet available for lease and the ability to accommodate tenants ranging from 1,000 to 20,000 square feet, we look forward to a successful lease-up of this quality office park.”
In announcing the assignment, Newmark said each of Broadacres’ buildings spans around 100,000 square feet. The complex has bright facades that are visible from the Garden State Parkway, with recently upgraded parking lots, common areas, wayfinding and energy-efficient LED exterior lighting.
Interior improvements, meantime, have included a new tenant lounge and fitness center with showers, as well as the renovation and expansion of the café and conference center. Tenants also benefit from a location near routes 3 and 46 and easy access to NJ Transit bus and rail service.
Newmark added that gradually improving demand in northern New Jersey’s office market during 2021 resulted in a flurry of large lease deals and a fourth quarter that saw the pandemic’s highest leasing volume for a three-month period.