TUCKER DEVELOPMENT TO OPEN FIRST NEW JERSEY OFFICE AT ROBERT TREAT CENTER IN NEWARK
Berger Organization’s Office Tower 100% Occupied
NEWARK, N.J., March 5, 2008 - The Berger Organization has announced a lease transaction at Robert Treat Center, the firm's 100,000-square-foot office tower at 50 Park Place in Newark. The property, which shares an address with the landmark Robert Treat Hotel, is 100 percent occupied.
Tucker Development Corporation, a Chicago-based commercial real estate organization, leased 1,600 square feet at Robert Treat Center. New to the Garden State, Tucker Development is focusing on retail and transit-oriented development opportunities and has announced that it will invest up to $1.5 billion in regional commercial real estate projects. Currently, the firm is in contract to purchase a three-acre redevelopment site in Newark from The Berger Organization. Located near NJ Transit's Broad Street Station, the property formerly housed a motel.
"We welcome Tucker Development to Newark and to 50 Park Place," noted Miles Berger, chairman and chief operating officer. "This well-established developer recognizes the potential of the Newark market, which continues to evolve as one of the state's most desirable urban hubs. We look forward to working with the company as a landlord and as a peer committed to the progress of this great city."
Other tenants at the building include the law firm of Jacoby & Meyers; Team Law or Tobin, Reitman, Greenstein, Caruso, Wiener & Konray; the City of Newark; the Associated Press; Newark Parking Authority; and the New Jersey State Opera.