Altice USA has brokered a 74,356-square-foot long-term sublease at 494 Broad Street in Newark, NJ. This deal marks the largest office transaction in Newark’s submarket so far in 2024, according to Avison Young.
The space will be occupied by the New Jersey Institute of Technology (NJIT), which will relocate several administrative offices to the ninth and tenth floors, starting in early May 2024. Altice USA was represented by Avison Young’s Drew Persson and Frank Pagano. NJIT was represented by in-house counsel.
494 Broad Street, owned by The Fidelco Group, offers fully furnished space with 350 covered parking spots. The layout includes seating for approximately 800 employees, along with private offices, meeting, and conference spaces.
