By Joshua Burd
An affiliate of Paramount Assets has filled nearly 7,000 square feet in Newark after leasing space to two growing social work organizations, according to a CBRE brokerage team.
The deals at the Academy Building, a 12-story tower 17 Academy St., include commitments of 2,800 and 4,000 square feet by Team Management and Project Ready, respectively. Both are leasing the space from Paramount Property Management, which was represented by CBRE’s Marta Person Villa.
“It was extremely gratifying to help these two expanding social services organizations find the perfect home at The Academy Building,” Villa said. “The property benefits from convenient access to public transportation that is so important to their clientele and employees.”
Built in 1926, the Academy Building sits between Halsey and Broad streets and has been home to various professional services firms over the years, according to a news release. Tenants benefit from its proximity to NJ Transit bus stops, Military Park Station, Newark Penn Station and the city’s cultural and educational institutions, as well as a mix of nearby restaurants and shops.
