logo
The #1 Bergen County New Jersey Office Space Realtor!
Search For Office Space
main-title

Office Space Bergen County

Find The Perfect Office For Your Business In Bergen County New Jersey!

Blog Post

One Newark Center SOLD

by Steven Muller - Dec 08, 2017 4:43pm

One Newark Center SOLD

A Chinese firm is investing in Newark.

Beijing Ideal Group, a investment and development company, purchased most of One Newark Center, a 22-story building on Raymond Boulevard near Military Park and Newark Penn Station, commercial realtor JLL announced this week.

The financial details of the company's purchase from its previous owners, Mack-Cali Realty Corp. and The Praedium Group, were not disclosed. But, Cushman and Wakefield, a real estate services firm, announced earlier this month it had secured $66.58 million in financing for the Chinese company to buy the sixth through 22nd floors of the building. The first five floors will remain Seton Hall Law School, and were not part of the sale.

Morgan Stanley put up the 10-year, fixed rate financing for the sale, Cushman and Wakefield said.

Talk To An Expert

To arrange for a FREE Consultation with an Office Space Bergen County expert Agent about this property or any other property, simply complete and submit this form, or call us Toll FREE at 877-266-6798