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NEWARK, NJ-Three new tenants have signed leases at 550 Broad St., a 300,000-sf, 18-story office tower in this city’s downtown. The building is majority owned by the Dr. Peters Group, a German investment firm, and Heritage Management Group of Ridgefield, NJ retains a minority share and manages the property.

The total space involved in the three signings is just less than 15,000 sf, with packaging maker US Corrugated Inc. accounting for just less than 9,200 sf of that total. Bluefield Holdings Inc., an environmental engineering firm, has leased just more than 3,507 sf, and residential developer Treetop Development has taken 2,000 sf. For the latter, the signing represents a headquarter relocation from New York City.

The ownership was represented by SVP Jeff Kolodkin and associate Dawn Arrabito of Grubb & Ellis’ Fairfield, NJ office, who picked up the exclusive assignment earlier this year. Terms of the leases were not disclosed; the approximately 100,000 sf currently available is listed with an asking price of $22.50 per sf. Built in the mid-’60s, the building was at one time largely occupied by First Fidelity Bank.

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