New Lease, Expansion Bring Berger's Robert Treat Center To 90% Occupancy
Newark Office Tower Meeting the Needs of Next-Generation Space Users
NEWARK, N.J., Feb. 25, 2015 – A new lease and a tenant expansion/renewal have brought The Berger Organization’s Robert Treat Center in Newark to 90 percent occupancy. Brendan Berger, vice president, orchestrated the long-term commitments at the 100,000-square-foot, 50 Park Place office tower.
Neurotrope, a biopharmaceutical company, leased 4,000 square feet at 50 Park Place. And law firm Jacoby & Meyers, a long-time tenant at the property, renewed its lease and added 1,000 square feet for a total of 2,900 square feet.
“When we purchased the Robert Treat Center in 1986, it was just 25 percent occupied,” Berger noted. “Over the years, we have completed a renovation of the building’s exterior and a complete overhaul of its interior accommodations. Today it offers modern accommodations that meet the needs and desires of a new generation of office users. This positioning has enabled us to capitalize on Newark’s resurgence as a preferred business location by attracting high-caliber tenants.”
Built in 1916, the 15-story Robert Treat Center sits adjacent to the Berger-owned, 176-room Best Western Robert Treat Hotel. Its tenants also include the Associated Press, the City of Newark, the State of New Jersey and Teach for America. Employees of these organizations enjoy the hotel’s amenities, a central location within Newark's cultural, dining and entertainment hub, and proximity to the city's transportation network including Newark Penn Station, PATH light rail, and the Broad Street Station.
The Berger Organization, itself, is headquartered at the Robert Treat Center. The privately owned diversified real estate owner/manager’s local office holdings also include three additional Park Place properties: The Military Park Building (60 Park), The Fireman’s Insurance Building (10 Park) and 58 Park Place; as well as 570 and 765 Broad Street.
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