PRESS RELEASE: Cushman & Wakefield, Heritage Ink HQ Lease for Non-Profit at 550 Broad in Newark

NEWARK, NJ - Commercial real estate services firm Cushman & Wakefield and Heritage Capital Group, operating partner for 550 Broad Street in Newark, have orchestrated a headquarters lease for The Wight Foundation. The non-profit organization, which provides grants for academically promising Newark-area students to attend boarding schools, will relocate to the 270,000-square-foot office tower from another Newark location in an expansion move.

Cushman & Wakefield's Ben Brenner, based in the firm's Morristown, N.J., office, represented The Wight Foundation in its 8,000-square-foot lease at 550 Broad Street. Steven Greenberg, a principal with Heritage Capital Group, negotiated the long-term transaction on behalf of his firm.

"We congratulate Steven and Heritage Capital Group on this smooth and successful lease," Brenner noted. "Their ability to work within The Wight Foundation's tight timeframe to deliver the space quickly and efficiently was critical - and impressive."

The Wight Foundation's new space will serve as the organization's administrative offices and will include meeting space and resource facilities for its scholars, alumni and families. Brenner added that the organization was drawn by the quality accommodations and solid ownership, and Heritage Capital Group's responsive, on-site property management team.

With visible signage east from Route 21, 550 Broad Street offers unobstructed views of the Manhattan skyline. Tenants there enjoy the latest voice, data and video technology; a video conferencing center; 24-hour security; eight high-speed elevators; and a loading dock and freight elevator. Heritage Capital Group is a third-generation, family-owned real estate firm based in Ridgewood, N.J.

TAGS: Brokerage