NEWARK, NJ—Berger Organization, a diversified real estate company based in Newark, NJ, has acquired 33 Washington Street, a 450,000-square-foot, 18-story office tower located in downtown Newark, from LNR Partners. The property was built for Horizon Blue Cross/Blue Shield, and is now multi-tenanted. The sale price was not disclosed.
“We are excited to add this iconic building to our portfolio,” says Miles Berger, chairman and CEO of Berger Organization. “The demand for high-quality office space in the city continues to grow and 33 Washington's excellent location and amenities make it a highly attractive address.”
The tower, which was completed in 1970, features a fitness center, shared conference rooms, on-site parking, and impressive granite lobby and views of the Manhattan skyline. According to Real Capital Analytics, a proprietary research firm, the building is about 19-percent occupied, with tenants including DHL, Horizon Casualty Services, and audio book publisher Audible.
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