Firm to lease remaining 25,000 SF of office space at Hahne & Co.’s historic former flagship store in Newark; long-vacant property redeveloped as multiuse facility

JLL was selected by 609 Broad Street LLC to lease the remaining office space at 609 Broad Street, the newly transformed former flagship of Hahne & Co. Department Store. Approximately 25,000 square feet of office space remains available on the second floor of the national landmark.

The JLL team handling the agency leasing assignment will be led by Jonathan Meisel, Conor Dolan and Christopher Conklin. The team will work closely with project owners L+M Development Partners, Prudential Financial and Goldman Sachs. Additionally, the team is coordinating with The Prusik Group, the retail partner on the project.

“This exciting project will bring to life one of Newark’s most historic buildings,” said Meisel. “Located across the street from redesigned Military Park and adjacent to Prudential Insurance Company’s new headquarters, Hahne’s is situated in area that is fast becoming a hot location in Newark, especially for business looking to grow."

The former department store was purchased in 2013 by 609 Broad Street LLC, which launched the revitalization of the historic property into a multiuse facility. The effort includes 160 rental apartments including studios, one- and two-bedrooms and three-bedroom apartments and approximately 160,000 square feet of retail, office space and community/educational space.

The project already has been met with tremendous success, with Newark’s first Whole Foods anchoring the mixed-use development with a lease for approximately 30,000 square feet on the ground floor. Rutgers University will lease approximately 50,000 square feet for Express Newark, an arts collaborative space within the project. Express Newark will provide art studios, classroom and art gallery space, in partnership with Newark artists, community members, schools and other institutions. City National Bank will be the first office tenant, having entered into a lease for approximately 11,000 square feet to relocate its headquarters from its previous location at 900 Broad Street in Newark.

The office space is truly unique, with 15-foot high ceilings, 12-foot tall windows, and high-efficiency HVAC heating and cooling systems designed around tenants’ specifications. The building offers a10,000-square-foot, 2-story skylit atrium, a second floor outdoor courtyard and high speed WiFi internet in the common areas adjacent to the office space.

JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,000 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility management, and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from three full-service offices in Parsippany, Iselin (Metropark) and East Rutherford, also acts as a local service provider for JLL’s global and national corporate clients in need of real estate assistance in New Jersey. JLL’s New Jersey operations were honored by NJBiz magazine as one of its 2015 Best Places to Work in New Jersey.

About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.