The city of Newark is making slow but steady progress towards adding new urban infill, including large low-slung developments. One such example is 110 Edison Place, inside the city’s downtown area. Edison Properties purchased the building from North Caldwell-based Berkowitz Company for $7 million, allowing them to build nearly half a million square feet of new office space.
The project, dubbed Ironside Newark, is the first speculative office building in Newark since the late 1980’s. This indicates an increasingly healthy market in Newark and the Tri-state area. Edison is investing $80 million into readapting the former freight warehouse into modern office space with retail.
The Mars Company has also announced plans to move part of their U.S. headquarters into the building. The company will occupy four floors as well as part of the seventh-floor penthouse, a glass addition to the rooftop of the existing structure, taking approximately 110,000 square feet in all.
Perkins Eastman is responsible for the design, which includes widening windows, redesigned interior space for modern offices, and an outdoor terrace space wrapped around the seventh-floor penthouse.
Construction is underway now, with completion expected in late 2018.