NEWARK, NJ—Recent upgrades and renovations are helping 24 Commerce Street in Newark, NJ achieve high occupancy with several new tenants, according to Newmark Grubb Knight Frank, which leases the building for its Lakewood, NJ-based owner, Diversified Capital.
“We have seen tremendous leasing activity in the past few months and have only about 36,000 square feet remaining,” says Jeff Kolodkin, managing director of Newmark Grubb Knight Frank. “The landlord has made significant investments to improve the property, and is achieving excellent results with an 85 percent occupancy rate. Tenants like to see Landlords investing in their properties.”
Updates to the property include renovated restrooms, upgraded lobby areas and exterior improvements. The landlord is also making a major investment by upgrading the elevator system. The property now features ADA accessibility at both building entrances.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
