Berger Adds Street-Level Retail At The Military Park Building
New Shops, Bank Branches Enhance Amenities for Tenants, Neighborhood.
- Newark, NJ (1888PressRelease) December 07, 2010 - New street-level retail space introduced at The Berger Organization's Military Park Building, 60 Park Place in Newark, has enhanced its amenities for both tenants at the 21-story office tower as well as the surrounding neighborhood. The addition is the final component of a major capital update at the property, which also upgraded the lobby, core building and elevators; and introduced a fitness center and conference room for tenants.
Already, three retailers - CityBeans Café coffee shop, Park Place Cleaners and Park Place News - have opened there. Hudson City Savings Bank, a long-time tenant at the Military Park Building, recently renewed the multi-year lease for its onsite branch. There is also a Proponent Federal Credit Union bank in the building. The shops are accessible from within the building as well as off the street.
"Our tenants have responded with enthusiasm for the changes and additions at The Military Park Building," notes Miles Berger, chairman and chief executive officer of The Berger Organization. "Our goal is to provide a high quality of life, providing not only terrific office accommodations, but also conveniences that ease employees' busy schedules."
According to Berger, his firm is hoping to add a sit-down restaurant to the retail mix. "In addition to occupying a prime location from which to tap into Newark's daytime CBD population, the Military Park Building is just one block from the New Jersey Performing Arts Center, near Prudential Center and the Bears & Eagles Riverfront Stadium," he said. "It is set to become a dining destination of choice for those who come to take advantage of Newark's burgeoning entertainment and cultural nightlife."
The 250,000-square-foot Military Park Building also underwent a comprehensive refurbishment in 2001. That project included mechanical upgrades, new windows and exterior restoration of the 85-year-old landmark. The property provides on-site parking and currently is 88 percent occupied.
Offering commanding views of Military Park, the surrounding city and the New York skyline, 60 Park Place offers proximity to Newark's extensive transportation infrastructure, including Newark Penn Station and the Newark Light Rail.