BALDASSARE & MARA, LLC LEASES AT 570 BROAD STREET IN NEWARK
Commitment Marks First Since Berger’s Involvement in Building Partnership
NEWARK, N.J. – July 26, 2011 – (RealEstateRama) — The law firm of Baldassare & Mara, LLC has leased 2,360 square feet at 570 Broad Street in Newark, representing the first commitment at the 15-story tower since The Berger Organization purchased a controlling interest in 570 Broad Street LLC, a partnership, earlier this year. The practice will relocate to the property from Chatham, N.J.
The Berger Organization, which manages and operates 570 Broad Street, currently is fitting out Baldassare & Mara LLC’s new space on the building’s ninth floor. The firm will take occupancy in temporary space on the fifth floor in August. Baldassare & Mara represents individuals and corporations in matters involving federal and state criminal law. The firm also has an active civil litigation practice and represents clients in the administrative, regulatory and licensing proceedings that often flow from criminal and civil litigation.
“Newark is the perfect location for our firm because of the city’s proximity to federal court, the busiest county courts in the state, and mass transit to New York City,” said the firm’s Managing Partner, Jennifer Mara, Esq. “We were quickly sold on 570 Broad given its location, its modern infrastructure, and The Berger Organization’s willingness to craft a lease that fit our needs. The Berger Organization was a pleasure to deal with, and we are confident that our custom-built space will be breathtaking, convenient for our clients, and a productive environment for our attorneys and staff.”
570 Broad Street includes 200,000 square feet of office space with ground-floor retail. Other tenants include State Farm Insurance, Chase Manhattan Bank, Atlantic Federal Credit Union, PC Tech and LycaTech. Full floors of 15,000 square feet, divisible to 2,500 square feet, remain available.
During the past 18 months, 570 Broad Street, LLC has updated the building’s office spaces with the latest technology and installed new state-of-the-art high-speed elevators, HVAC and security systems, and high-speed fiber-optics. The Berger Organization recently opened a property showroom onsite and is in the midst of additional building infrastructure improvements. Ongoing plans call for a parking element with one space per 1,000 square feet, a conference room for use by tenants, and a fitness center for tenants and their employees.
“We are committed to enhancing 570 Broad Street’s appeal as a first-class business environment,” noted Miles Berger, chairman and chief executive officer. “Baldassare & Mara, LLC’s commitment, and increasing, active interest from other prospective tenants, testifies that we are achieving that goal.”
Located across from Newark’s Washington Square Park, 570 Broad Street offers easy access to Newark Penn Station and Broad Street Station; local dining, shopping and lodging; and entertainment venues like Prudential Center, the New Jersey Performing Arts Center and Newark Bears Stadium. The property also is within walking distance of the Newark campuses of Seton Hall and Rutgers universities, and the New Jersey Institute of Technology.
In addition to 570 Broad Street, The Berger Organization’s Newark portfolio includes landmark office buildings at 10, 50, and 60 Park Place (the Fireman’s Insurance Building, Robert Treat Center, and Military Park Building, respectively). Other properties in the city include the 176-room Best Western Robert Treat Hotel and the Griffith and Hahne buildings at 605 and 609 Broad Street, both slated for mixed-use redevelopment.
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