Jones Lang LaSalle


905-909 Broad St. Goes on the Market
By Eric Peterson

NEWARK-Independence Community Bank has given Trammell Crow Co. the assignment to sell or lease its 905-909 Broad St. building here. The building’s office space once served as the headquarters of Broad National Bank, which was merged with the Brooklyn, NY-based Independence Community Bank several years ago. The banks’ combined headquarters operations subsequently made the 905-909 Broad St. space surplus.

The building is located in the Downtown area, directly across from both city hall and the planned New Jersey Devils arena. The five-story building combines ground-floor retail, currently 100% occupied by a Duane Reade pharmacy and an Independence Community Bank branch, with upper-floor office space that’s largely vacant. The property also has 132 on-site parking spaces.

Dudley D. Ryan of TCC’s Florham Park office is handling the assignment. "This property presents both buyers and potential tenants an opportunity to be in one of the city’s best locations."

Copyright © 2006 ALM Properties, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.