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

NEWARK, NJ—While New York-headquartered Nightingale Properties, which last October purchased the 26-story, 973,000-square-foot 80 Park Plaza, is in the midst of spending over $4 million to modernize the building, the available space for lease on the tower floors is currently being marketed by Cushman & Wakefield’s Morristown office.

As previously reported by GlobeSt.com, the sale was part of Columbia Property Trust’s previously announced plan to dispose of roughly $700 million to $1 billion of non-core assets, with approximately $532 million in assets already sold in 2016.

The tower floors feature expansive views of Manhattan and New Jersey in the center of the city’s growing 24/7 lifestyle environment. Upgrades include creating a bright, modern building lobby, a conference facility and a wifi-enabled grab-and-go café-coffee bar, open all day.

While this is Nightingale’s first acquisition in New Jersey, the company is a prominent owner and developer throughout the United States. “Nightingale Properties is an incredibly entrepreneurial firm that is committed to creating a state-of-the-art facility, which will attract a world class company to occupy the tower floors”, says Ben Brenner, who is handling the lease assignment with Cushman & Wakefield team members Bill Brown and Josh Cohen.

“80 Park’s vacancy is comprised of 165,000 square feet on floors 21 through 25, which can accommodate a wide range of companies, including high density uses such as a trading floor, technology firm or call center,” Brennan says.

“PSEG is the property’s anchor tenant, occupying almost one million square feet within 80 Park Plaza, and recently signed a long-term lease renewal,” says Brown. “Having well-capitalized, innovative owners and a stable long-term tenant like PSEG will make this building very attractive to companies searching for office space in Newark.”

Brenner says that the location adjacent to Military Park puts 80 Park Plaza in the heart of revitalization activity in the city. Whole Foods opened a new store on March 1 as the anchor of the redeveloped Hahne and Company building nearby. Starbucks, Nike and Chipotle are among the growing number of national retailers to move into the area with more than 1,500 residential units either planned or under construction, along with several new hotels.

Just two blocks from Newark Penn Station and on the Newark Light Rail, tenants of 80 Park Plaza are minutes from rail, PATH and bus access to Manhattan. Newark Liberty International Airport is less than 15 minutes away.

As Nightingale Properties Modernizes 80 Park Plaza, C&W Marketing Space in Iconic Tower

 

NEWARK, NJ—While New York-headquartered Nightingale Properties, which recently purchased the 26-story, 973,000-square-foot 80 Park Plaza, is in the midst of spending over $4 million to modernize the building, the available space for lease on the tower floors is currently being marketed by Cushman & Wakefield’s Morristown office.

The tower floors feature expansive views of Manhattan and New Jersey in the center of the city’s growing 24/7 lifestyle environment. Upgrades include creating a bright, modern building lobby, a conference facility and a wifi-enabled grab-and-go café-coffee bar, open all day.

While this is Nightingale’s first acquisition in New Jersey, the company is a prominent owner and developer throughout the United States. “Nightingale Properties is an incredibly entrepreneurial firm that is committed to creating a state-of-the-art facility, which will attract a world class company to occupy the tower floors”, says Ben Brenner, who is handling the lease assignment with Cushman & Wakefield team members Bill Brown and Josh Cohen.

“80 Park’s vacancy is comprised of 165,000 square feet on floors 21 through 25, which can accommodate a wide range of companies, including high density uses such as a trading floor, technology firm or call center,” Brennan says.

“PSEG is the property’s anchor tenant, occupying almost one million square feet within 80 Park Plaza, and recently signed a long-term lease renewal,” says Brown. “Having well-capitalized, innovative owners and a stable long-term tenant like PSEG will make this building very attractive to companies searching for office space in Newark.”

Brenner says that the location adjacent to Military Park puts 80 Park Plaza in the heart of revitalization activity in the city. Whole Foods opened a new store on March 1 as the anchor of the redeveloped Hahne and Company building nearby. Starbucks, Nike and Chipotle are among the growing number of national retailers to move into the area with more than 1,500 residential units either planned or under construction, along with several new hotels.

Just two blocks from Newark Penn Station and on the Newark Light Rail, tenants of 80 Park Plaza are minutes from rail, PATH and bus access to Manhattan. Newark Liberty International Airport is less than 15 minutes away.