By Linda Lindner – NJ Biz
May 20, 2019 – Cushman & Wakefield’s New Jersey Asset Services team announced it has been tapped for institutionalization of property management practices at The National Newark Building at 744 Broad St.
The team, headed by Managing Director Michael Nevins along with the current ownership Emerita USA, is rolling out a full action plan to improve efficiency and operation of this historic office tower as part of its reintroduction and rebranding.
Totaling 592,000 square feet, the property is the tallest building in New Jersey’s largest city. It occupies a full block on Broad Street, between Clinton and Commerce streets, and includes street level retail, a mezzanine with event space and an 80-car parking lot. The tower floors offer views of downtown Newark and the New York City skyline.
Emerita has been investing in historic trophy assets and owns over 2 million square feet across multiple asset classes including hotel, commercial and industrial space.