The building is currently 70% leased, according to Ira Bloom, director of commercial real estate for Kushner Properties, which has had the management and leasing assignment since 2000. The landmark asset, which dates to 1925, underwent a $5 million renovation in 2001. Its multi-tenant mix includes law firms, financial institutions, not-for-profit organizations and consulting firms.
Noting that several lease renewals were signed earlier this year, "demand for office space in the building has increased as a reflection of the revival of Newark's downtown area," says Christian Benedetto Jr., a partner in National Redevelopment. Benedetto co-founded the firm in 1998 with partner Kenneth H. Williams.
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