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Former Verizon Headquarters Building

540 Broad Street, Newark, NJ 07102


373,128 SF | Office

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Office Property - Off Market

Building Size:
373,128 SF
Property Type:
Property Sub-type:
Office Building
Property Use Type:
Building Class:
Year Built:
Lot Size:
0.77 AC
Listing ID
Last Updated
over 1 year ago


VZREALESTATE. **Sealed Bid Sale Offering**Verizon New Jersey Inc. has retained Grubb & Ellis Company to sell its 100% fee simple interest in 540 Broad Street, Newark, Essex County, New Jersey. The offering represents a unique value-added opportunity to acquire a 20-story, 373,128 rentable square foot historic office tower in the Washington Park Section of the Central Business District, at a price well below replacement cost. Over $61 million in renovations have been completed in the building. In addition, Verizon New Jersey Inc. and its affiliate, Verizon Global Networks, Inc., will leaseback 213,416 rentable square feet (approx. 57% of the buildings rentable area). The property qualifies for the Urban Transit Hub Tax Credit Program whereby capital improvements and rent payments may be offset by tax credits creating a competitive advantage in securing tenants over competing properties for lease. The property provides for immediate access to the NJ Light Rail with connections to Broad Street and Penn Stations.Parking Description: 435

Walk to Newark Penn and Broad Street NJ Transit Stations; light rail station at building.

Map of 540 Broad Street, Newark, NJ 07102

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