NEWARK-Some said it was a gamble when Tremont Capital Corp. bought the landmark but under-performing 550 Broad St. two years ago. But a complete overhaul of the 282,500-sf building and its operating systems has turned it into a hot property in an increasingly hot market. The refinished product was recently unveiled to the business community.

SBLI USA Mutual Life’s new lease for 31,500 sf is the latest deal as the property nears 100% occupancy. Alexander Summer, Paramus, NJ, is the building’s leasing and management agent.

SBLI’s lease is an expansion from its home base across the Hudson River in NYC. According to company VP and chief of staff Michael Lane, “New Jersey represents a tremendous growth opportunity for us, and Newark is clearly the place to start.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.