45 Bleeker St. in Newark — Courtesy: NAI James E. Hanson
By Joshua Burd
Rutgers University has acquired a 3,700-square-foot office building in downtown Newark, under a newly announced transaction by NAI James E. Hanson.
According to a news release, the school will use the property at 45 Bleeker St. as administrative office space, adding to what is already a considerable footprint in the University Heights neighborhood. The seller, ChildSmiles, subsequently opted to move its back-office operations to a 9,500-square-foot space at 103 Eisenhower Parkway in Roseland.
NAI James E. Hanson’s Andrew Kirshenbaum represented both parties in the Newark deal, while also representing the dental practice in its relocation.
“It comes as no surprise that Rutgers University-Newark jumped on the opportunity to buy this property to grow their presence in the surrounding area,” Kirshenbaum said. “High-quality office spaces in resurgent downtown areas like Newark continue to be in high demand, and we are pleased to have leveraged our understanding of the market to identify both a buyer and new use for this historic building.”
In announcing the deal, NAI Hanson noted that 45 Bleeker sits within the James Street Commons Historic District and was originally owned by the Archdiocese of Newark. The building has had several owners since then and has recent upgrades including renovations to four restrooms, new data wiring and a new HVAC system.
The property is also minutes from the many other schools and universities in the area and within walking distance of NJ Transit’s Broad Street station and Newark Penn Station.
Kirshenbaum also serves as the listing broker for ChildSmiles’ 49,000-square-foot medical office building at 65 Jefferson Ave. in Elizabeth, the news release said. What’s more, he has leased a 45-car lot on the practice’s behalf at another office in Newark.
