Historical Office Sale Listing - Former Verizon Headquarters Building

Office For Sale

This Office property is Off-Market. Search below to find active commercial real estate for sale or lease.

Browse More Listings in Office For Sale, Newark, NJ or New Jersey

Former Verizon Headquarters Building

540 Broad Street, Newark, NJ 07102

N/A

373,128 SF | Office

  • Print

Office Property - Off Market

Price:
N/A
Building Size:
373,128 SF
Property Type:
Office
Property Sub-type:
Office Building
Property Use Type:
Vacant/Owner-User
Building Class:
B
Year Built:
1929
Lot Size:
0.77 AC
Listing ID
16139033
Last Updated
over 1 year ago

Description

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

Research for 540 Broad Street, Newark, NJ 07102 (Essex County)

  • Demographics – Population, income & other demographics near 540 Broad Street
  • Research Price – Recent sales of similar properties
  • Property Record Data – Historical listings, current tax, mortgage, owners & tenant info for this building
Created 3/10/2009