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SOLD: Class A Office Tower in Newark, NY Opportunity Zone | Bidding Opens: April 8th

550 Broad Street, Newark, NJ, 07102

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Sold!
SOLD: Class A Office Tower in Newark, NY Opportunity Zone | Bidding Opens: April 8th
Other Parties:
Comments:

This April, 550 Broad Street, a Trophy Office Building located in the Opportunity Zone of Newark, NJ has been sold and was auctioned through the online commercial real estate platform, RealINSIGHT Marketplace.

The offering, presented by Newmark Knight Frank and RealINSIGHT Marketplace, represented a compelling opportunity to acquire a best-in-class property with a substantial value-add component in an Opportunity Zone.
 

550 Broad Street, previously recognized as BOMA building of the year, features an attractive timeless exterior, expansive and customizable space in the interior, on-site ATM, newly renovated gym and café, 24-hour security, and spectacular unobstructed views of the Manhattan skyline and Downtown Newark. The building is also equipped with vertically wired fiber optic cables for the latest voice, data, and video technology.

 

About the Property:

  • 18 Stories, 290,000 RSF
  • Built in 1966, renovated in 2006 & 2016
  • Smart Building Technology

 

 

The current stable list of tenants within 550 Broad Street allows the potential investor immediate and stable in-place cash flow backed by a diverse tenant roster along with predictable and manageable roll over the next five (5) years.

 

 

About the Location:

  • Strategically Located
  • Tremendous Access
  • Opportunity Zone

 

 

Date: May 01, 2019
Transaction Amount: $0

Presented by:
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