540 Broad Street

Newark, New Jersey

L+M continues its investment activity in Newark with the acquisition of the over 400,000 square foot historic home to NJ Bell (subsequently, Verizon) at 540 Broad Street. Built in the 1920s and a great representative design of architect Ralph Walker, this building, with its grand lobby and distinctive façade, is to be adaptively re-used to support 265 mixed income apartments, offices, and ground floor retail spaces. Having acquired the property in May 2016 in a partnership with Prudential Financial, L+M looks to deliver for initial residential occupancy in late 2018.