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NEWARK-Owner Fidelco Realty Group has opened a 7,000-sf executive suites component within its 17-story, 400,000-sf 1 Washington Park building Downtown. The suites are designed as headquarters space to be rented on a monthly basis. It consists of eight interior administrative offices and 17 perimeter offices, according to Marc Berson, chairman of the Millburn-based Fidelco, including an eight-office connecting suite.

And Fidelco has signed its initial tenant for the space, the Trust for Public Land, which will occupy two of the perimeter offices. “We have significant interests in the creation of parkland along the Passaic River waterfront,” says Carl Haefner, program director for the Trust. “This satellite office will serve as a base of operations.”

Fidelco bought 1 Washington Park in 2004 and launched a major renovation of the then-vacant tower. Just more than a year ago, Rutgers University bought the lower 11 stories for conversion into a new site for its business school. Actual work on the conversion is slated to start before the end of the year.

Fidelco retained the upper six floors of the building, located at the intersection of Washington, Broad and Orange streets, for multi-tenant occupancy. Since overhauling the property, the company has signed several new tenants, including Audible Inc., Gann Law Books and Conti Enterprises.

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