"It signals the early success of the building's redevelopment," Jeffrey Greenberg says, referring to the $5 million his company spent to bring the 14-story, 200,000-sf asset up to standard after acquiring it two year ago. "And each of the leases represents a relocation from outside Newark, reflecting a growing momentum within the city's downtown business district.

The four new signees join Washington Mutual and Atlantic Federal Credit Union at 570 Broad, both of which had pre-leased space while the building's renovation was still under way. The largest deal among the latest four is the 18,400 sf taken by DiversityInc, a publisher of corporate management magazines that will relocate its headquarters here from New Brunswick, NJ. Jeff Kolodkin of Grubb & Ellis' Fairfield, NJ office worked the deal for DiversityInc.

Also, Urbitran Corp., an architectural and engineering firm, has taken 7,500 sf, and will relocate its New Jersey offices from Montville. Heritage orchestrated the deal in-house. PC Tech, a technology training firm, has taken 3,500 sf in the building, and will relocate from Jersey City. And Lycatel Group, a European prepaid telecom organization, will relocate its North American HQ to 3,150 sf here. The latter transaction was arranged for Heritage by Charles Laginestra, and by Mark Mattesky of CB Richard Ellis for Lycatel.

First Fidelity Bank, the one-time full-building occupant, vacated the premises more than seven years ago in the wake of its merger with First Union Bank (now Wachovia). After a couple of stops and starts--MetLife once considered it as an ancillary location, and the Gale Co. at one time had redevelopment designs on it--Heritage bought it in early 2003 for the relatively cut-rate price of $7.5 million, or about $39 per sf. The seller was Investment Properties Association, a partnership of Leona Helmsley, the estate of the late Harry Helmsley and other principals of Helmsley-Spear.