Flourishing Leasing Activity at 24 Commerce Street in Newark

LAKEWOOD, N.J., Sept. 16, 2016 /PRNewswire/ -- The newly renovated office space at 24 Commerce Street in Newark, NJ has achieved a high occupancy rate with several new tenants. Tenants include: Pennoni Associates; the Law Firm of McCarter English; One Wall Partners; AJ Gallagher; Minuteman Press Printing; Cavalry Staffing; the Law Office of Michelle Labayen; Elite Financial; Patunas Law, LLC; Unique Home Care; the Law Office of Phillipe Kouassi and Blaise Odhiambo; Vertex Global; and AB Brown Photographers. Also new to the building are: ALM Media, the regional office of the New Jersey Economic Development Authority, and Frank & Pollack LLC. Renewals and expansions have been active as well with Clinton Chiropractic; Intelli-healthcare Solutions; Lycatel; and Freeman & Bass, Attorneys at Law.

Photo - http://photos.prnewswire.com/prnh/20160915/408507

Photo - http://photos.prnewswire.com/prnh/20160915/408508

"We have seen tremendous leasing activity in the past few months and have only about 36,000 SF remaining," said Jeff Kolodkin, Managing Director of Newmark Grubb Knight Frank, the exclusive leasing agent for 24 Commerce Street. "The Landlord has made significant investments to improve the property, and is achieving excellent results with an 85% occupancy rate. Tenants like to see Landlords investing in their properties."

Updates to the property include renovated restrooms, upgraded lobby areas and exterior improvements. The Landlord is also making a major investment by upgrading the elevator system. The property now features ADA accessibility at both building entrances.

24 Commerce Street, a well-situated, 18-story professional office building, offers a convenient location with close access to all public transportation. On-site amenities include a café, 24/7 access, 24-hour common area security cameras, on-site security and walking distance to Newark Penn Station. Tenants receive full service from the in-house management and maintenance team.

Select spaces are still available, from 1,500 square feet to up to 36,000 square feet of combined available space. A spec-built fully furnished, 6,500 square foot suite is available for immediate occupancy.

The property is owned and managed by Diversified Capital of Lakewood, NJ. Diversified Capital owns and manages a comprehensive portfolio of commercial and residential properties in New Jersey, Pennsylvania, Virginia, Connecticut and Texas. Founded in 1999 by President Joseph I. Rosenbaum, the firm specializes in managing, acquiring and turning around properties, and repositioning these acquisitions as stabilized, income-producing assets within its long-term portfolio.

Key Points:

• The newly-renovated office space at Newark's former Federal Trust Bank building has attracted a host of tenants.
• Extensive renovations include renovated restrooms, upgraded lobby areas, exterior improvements, upgraded elevator system and ADA-accessibility at both building entrances.

"The Landlord has made significant investments to improve the property, and is achieving excellent results with an 85% occupancy rate." Jeff Kolodkin, Managing Director of Newmark Grubb Knight Frank

Diversified Capital, LLC
1125 Ocean Avenue
Lakewood, NJ 08701

Media Contact: Andrea Solomon, Email, 973-639-0800

SOURCE Diversified Capital, LLC