NEWARK, NJ—Beijing Ideal Group, a Chinese investment and development firm, has acquired One Newark Center, a class-A, 423,028-square-foot commercial office building in the heart of downtown Newark, from a joint-venture between The Praedium Group and Mack-Cali Realty Corporation.
One Newark Center is strategically located on Raymond Boulevard between McCarter Highway and Mulberry Street, just one block from historic Military Park and Newark Penn Station. The building's proximity to the train station provides tenants with NJ Transit, PATH and Amtrak service to New York and points along the Northeast Corridor, as well as access to the Newark Light Rail system.
Jones Lang LaSalle capital markets professionals oversaw the sale transaction. All three firms were represented by Joseph Garibaldi and Thomas Walsh, managing directors; Stephen Feinberg, vice president; and Katelyn Borovsky and Heather Lombardi, associates. JLL's personnel worked closely with Brian Lindenberg, vice president of asset management at Praedium.
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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].
