Newark's First Speculative Office Project in 30 Years Unveiled
- Edison Properties plans transformation of downtown warehouse
- Newark revival also includes Prudential tower, apartments
The 456,000-square-foot project
Source: Edison PropertiesThis article is for subscribers only.
Plans were unveiled Tuesday for the transformation of a Newark, New Jersey, warehouse into a mixed-use project that would include the city’s first speculative office space in at least 30 years.
Edison Properties, a Newark-based real estate developer, is making a $75 million equity investment in the 456,000-square-foot (42,400-square-meter) project, said Daniel Ivers, a company spokesman. Plans call for two stories of retail and restaurant space, and six floors of offices. The site borders Mulberry Commons park, which was announced in January and will connect Newark’s Pennsylvania Station with Prudential Center, home to the New Jersey Devils hockey team.