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Lee NJ Brokers Office Sale in Newark Opportunity Zone
Lee & Associates New Jersey has arranged the sale of 260 Broadway, a two-story, 9,000-square foot office building in Newark, to locally based developer KS Group. Assistant VPs Jerry Joseph and Tarang Ramani and associate Kyle Janoczkin represented the seller, 260 Broadway LLC. KS was represented by Han Save of Group Twenty Six LLC.
“Investors remain bullish on commercial redevelopment in the City of Newark,” said Joseph. “This property’s prime location on Broadway, in one of the city’s designated Opportunity Zones, makes it an ideal acquisition for KS Group, which focuses on identifying opportunities with improvement potential in high-demand areas.”
Located near the intersection of 3rd Avenue, 260 Broadway is nearby downtown and Newark’s CBD. The property offers commuters easy access to I-280 and Routes 21 and 3, as well as the value-added amenity of gated on-site parking. Public transit is also convenient to the property.
- ◦Sale/Acquisition