58 Park Place Offers Office Space in Newark
58 Park Place is the quintessential Newark address for office tenants desiring a centralized downtown location near hotels, dining, transportation and some of the city’s most historical sites. Situated next to the Military Park Building at 60 Park Place, the four-story brick building overlooks the newly renovated Military Park and lays only steps from the New Jersey Performing Arts Center (NJPAC) on Center Street. Nearby attractions include Prudential Center Arena, Newark Museum and Bears Riverfront Stadium. Manhattan is just a 20-minute PATH commute away.
58 Park Place Sits in the Heart of Newark
The 30,000-square-foot office building at 58 Park Place sits at the heart of Newark’s arts, culture and entertainment venues. Initially, the office building served as the founding headquarters of Feist & Feist Realty Corp. Today, the tenant roster includes the headquarters operations for the Garden State Ballet and Tempo Networks, a pan-Caribbean media and entertainment company. Habitat for Humanity, a Military Park Building tenant, is finalizing plans to relocate to the fourth floor of 58 Park Place. The building is 50 percent leased with restaurant space available on the first floor.
Military Park Symbolizes Newark’s Revitalization
The state’s largest city is experiencing a renaissance, and the neighborhood surrounding 58 Park Place is evidence of that renewal. Historic Military Park, bounded by Broad Street, Rector Street and Park Place, underwent a $3 million facelift before it was re-opened to the public last year. A movement to revitalize the park got underway in 2013 and today the treasured landmark has been restored to its past grandeur. The six-acre outdoor space is an inner-city oasis where office workers and the community gather to enjoy live music events and farmers markets. The park features historic design elements such as 19th and 20th century monuments and statues, which are being restored as part of Military Park’s renovation.
In addition to Military Park, projects like Prudential’s new headquarters tower have brought renewed energy to the local business community. The 20-story office building for Prudential is a symbol of the redevelopment occurring in Newark’s downtown. Across the street, another construction project involves the renovation of the historic Hahne & Company department store. A Whole Foods Market and mixed-income rental apartments are also slated to open in the restored building at 609 Broad Street.
Young Professionals, Students Embrace Newark
Young professionals are finding that Newark is a desirable place to live and work while students are also benefitting from the city’s top-notch colleges and universities. Newark offers an affordable, convenient lifestyle with proximity to New York, an international airport, two transportation systems and a subway system. In addition, the availability of housing such as renovated industrial spaces and new condominium and loft projects are making Newark a hip place to live.
Newark is also a university town, teeming with college students who contribute to the city’s vitality. Nearly 40,000 students attend the city’s colleges and universities, which include Rutgers-Newark, Seton Hall University School of Law, New Jersey Institute of Technology, Essex County College and Berkeley College.
After hours, Newark is a bustling urban destination with a rich concentration of world-class sports, entertainment, performance and museum facilities. In addition to the performances at NJPAC and free concerts at Military Park, there’s plenty to do in Newark. Sports and cultural enthusiasts will find the Newark Museum, Bears Stadium and Newark Symphony Hall offer a full schedule of programs. To accommodate visitors and residents, countless new hotels, retail developments and restaurants are springing up, offering plenty of places to work live and play in Newark.
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