A portion of 80 Park Avenue, Newark, NJ, and surrounding plaza A portion of 80 Park Avenue, Newark, NJ, and surrounding plaza

NEWARK, NJ—Columbia Property Trust has sold 80 Park Plaza, a class-A office property in downtown Newark, NJ, that houses the headquarters of PSEG, New Jersey’s largest electric and gas utility, to Nightingale Properties and private investor Simon Glick for $174.5 million in gross proceeds. Columbia will use proceeds from the sale to repay borrowings on its unsecured credit facility and for reinvestment in its target markets.