NAI Hanson Completes 13,315 SF Lease Expansion Deal At The Iconic National Newark Building In Newark, New Jersey

NAI James E. Hanson, one of New Jersey's leading commercial real estate firms, has announced the completion of a 13,315-square-foot lease expansion and extension at the National Newark Building, located at 744 Broad Street in Newark, New Jersey. NAI James E. Hanson's W. Joshua Levering, SIOR, Senior Vice President, and Robert Borny, Sales Associate, represented the tenant, Order Execution Services (OES), a NASDAQ clearing house and tracking entity, in this transaction. Frank LePera, Senior Managing Director of Cogswell Realty Group, represented the landlord.

 "The building's historic look and feel, as well as its convenient location in the densely populated submarket of Newark, are what originally attracted OES to this iconic building," stated Levering. "However, as the company continued to expand its operations, OES simply grew out of its previous space located on the 22nd floor. Through careful negotiations with the building's ownership, we were able to relocate OES to occupy the entire 23rd floor and thus suit the needs of both parties involved."

Built in 1930, the National Newark Building is a 630,040-square-foot, 34-story neo-classical masterpiece, which contains both office and retail space. The building, which is one of the country's first skyscrapers and New Jersey's tallest commercial tower, has undergone a $55 million renovation project to restore its historic splendor while also updating its amenities to include state-of-the-art hi-tech features such as a multimedia high-tech conference center and redundant high capacity telecommunication risers.

Additional amenities at 744 Broad Street include a fully restored lobby with historically accurate marble and brass features, 14 new passenger elevators, 2 new freight elevators, an on-site copy center, a health club and childcare, a new tenant controlled energy efficient HVAC system and state-of-the-art security system that includes closed circuit television monitoring capabilities and entry/exit doors and elevators.

Located in the heart of downtown Newark, within 12 minutes of New York City and home to one of the country's largest shipping ports and the busiest airport in the tri-state area, the National Newark Building is just one block from the Gateway walkway entrance to Newark's Penn Station and 15 minutes from Newark International Airport. With easy accessibility to the New Jersey Turnpike, Garden State Parkway, Routes 78, 21, 1 and 9, the building has attracted a notable office and retail tenant roster, including Newark Regional Business Partnership, Starbucks Coffee, Duane Morris & Hecksher; PSE&G and Verizon Wireless, among others.

About NAI James E. Hanson
Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise. NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 325 offices spanning the globe.
For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company's Hackensack office at 201-488-5800 or visit www.naihanson.com.