Class A Office Building Up for Sale
- Mar 05, 2019
This April, 550 Broad Street, a Trophy Office Building located in the Opportunity Zone of Newark, N.J., will be auctioned through the online commercial real estate platform RealINSIGHT Marketplace.
The offering, presented by Newmark Knight Frank and RealINSIGHT Marketplace, represents a compelling opportunity to acquire a best-in-class property with a substantial value-add component in an Opportunity Zone.
550 Broad Street, previously recognized as BOMA Building of the Year, features an attractive timeless exterior, expansive and customizable space in the interior, on-site ATM, newly renovated gym and café, 24-hour security, and spectacular unobstructed views of the Manhattan skyline and Downtown Newark. The building is also equipped with vertically wired fiber optic cables for the latest voice, data, and video technology.
About the Property:
- 18 Stories, 290,000 RSF
- Built in 1966, renovated in 2006 & 2016
- Smart Building Technology
The current stable list of tenants within 550 Broad Street allows the potential investor immediate and stable in-place cash flow backed by a diverse tenant roster along with predictable and manageable roll over the next five (5) years.
About the Location:
- Strategically Located
- Tremendous Access
- Opportunity Zone
With its location within the area’s Opportunity Zone, an acquisition of the Property could provide a powerful vehicle to defer capital gains, receive tax breaks and increase after-tax IRR.
550 Broad Street is situated in a highly sought-after area and within walking distance of the New Jersey Performing Arts Center, The Broad Street Train Station, Newark Bears Stadium, Newark Penn Station and Path Trains, abundance of local amenities and less than 4 miles from Newark Liberty International Airport. The site rests directly off Route 21 McCarter Highway with access to NJ Turnpike (I-95), routes 280, 78 and 22.
The Auction will be held on RealINSIGHT Marketplace on Monday, April 8th – Wednesday, April 10th.
For more information on 550 Broad Street – Newark, N.J.
Please visit RI-Marketplace.com/500BroadSt
About RealINSIGHT Marketplace:
RealINSIGHT Marketplace is the preeminent platform for CRE transactions, bringing Buyers, Sellers, and Brokers together to efficiently list, market, and close deals. Marketplace allows local, regional, national, and international investors the opportunity to easily review and bid on commercial real estate assets throughout the country. The sales platform is managed by a dedicated team of commercial real estate experts with over $11B in online real estate sales. RealINSIGHT Marketplace has completed over 1.65 B transacted since its inception in early 2017.