Team Schools Leases Space at Berger’s Military Park Building
Newark Office Tower Houses Administrative Operations for Charter School Group
NEWARK, N.J., Sept. 21, 2010 – TEAM Charter Schools, a Newark-based education organization affiliated with the national KIPP network, has leased 8,000 square feet of space at the Military Park Building, 60 Park Place in Newark, announced property owner The Berger Organization. TEAM has relocated its administrative operations to the 250,000-square-foot office tower in an expansion move.
Berger’s in-house team negotiated the transaction as building representative. Jon Karnick from Assurance Realty served as tenant broker for TEAM Charter Schools.
TEAM, which opened its first charter school in 2002 with an inaugural class of 80 students, currently teaches approximately 1,200 students in its four Newark locations. They include the SPARK Academy elementary school, the TEAM Academy and Rise Academy middle schools, and the Newark Collegiate Academy high school. “We will add a new high school and elementary school in 2012, and are looking to continue growing so that we can accommodate more of Newark’s students. Our goal is to provide a first-class education for all of Newark’s kids,” said Jose Pacheco, TEAM’s director of facilities.
“TEAM’s mission is to one day make Newark a world-class educational city, where every child has an opportunity to get a great education,” he added. “Through the combination of a supportive community and amazing teachers we are making that happen.”
TEAM’s offices previously had been housed in one of its schools. “We have 40 employees on the operations side, and we needed more space, more than the two classrooms we were occupying,” Pacheco said. “The space at 60 Park is much larger and affords the flexibility to expand, and by moving out of the school, we were able to give that space back for teaching.”
As for its new offices at the Military Park Building, Pacheco notes that the location and accommodations are ideal. “The Berger Organization has been extremely supportive,” he said. “We had a distinct vision for what we wanted our office to be, and they were able and willing to help us. With our new space we are better able to support our schools, which was our top priority. They are exceptionally responsive. It is an ideal situation.”
The space, located on the eighth floor of the Military Park Building, has been built out by Berger and features a modern look and feel with open ceilings and a spacious layout.
An 85-year-old historic property, the 21-story Military Park Building sits in Newark’s central business district, just one block from the New Jersey Performing Arts Center. Tenants there enjoy on-site tenant parking; a fitness center; conference facilities; onsite ownership and management; and commanding views of the surrounding city, New York skyline and Military Park. Additionally, the property offers easy access to Newark Liberty International Airport and major thoroughfares. It is within walking distance to Penn Station, which provides 20-minute NJ Transit and PATH service to midtown and downtown Manhattan.
Currently, the Military Park Building is 86 percent occupied, with contiguous availabilities from 1,000 to 15,000 square feet.
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