1/15/2008

Berger acquires Newark's 60 Park Place

by

Military Park Building

The Berger Organization has acquired the Military Park Building in Newark from Florham Park-based Kushner Companies.

The deal was brokered by Cushman & Wakefield's Metropolitan Area Capital Markets Group.

The 250,000 square foot office tower is located at 60 Park Place. It is currently 75 percent occupied with the largest tenant being the Worker's Compensation Rating & Inspection Bureau. Berger plans to invest $5 million in renovations to the building, including upgrades to the lobby and core building. The building recently underwent an extensive refurbishment in 2001.

Berger previously held a 15 percent minority interest in the building prior to the acquisition.

Address: 60 Park Place, Newark, N.J.

Size: 250,000 square feet

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Filed Under: Office

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