Paramount Assets Arranges 20,000 SF Lease with Non-Profit Project for Empty Space at 800 Broad Street, Newark

November 15, 2019 – Not-for-profit organization Project for Empty Space has inked a deal for 20,000 square feet at Paramount Assets’ 800 Broad Street in Newark. The real estate...
800 Broad

November 15, 2019 – Not-for-profit organization Project for Empty Space has inked a deal for 20,000 square feet at Paramount Assets’ 800 Broad Street in Newark. The real estate investment firm’s Executive Director of Leasing and Marketing Samir Guzman arranged the long-term lease; Marta Villa of JLL represented the tenant.

Relocating to 800 Broad Street from another Newark address, Project for Empty Space is a hub for multidisciplinary creative engagement. The organization’s new space will feature multiple galleries and exhibition areas, as well as amenitized studios.

“800 Broad Street proved an ideal match for Project for Empty Space, and we are pleased to have been able to accommodate their space requirements,” said Guzman. “In addition to its premier downtown location – in proximity to public transportation options and the Prudential Center – 800 Broad Street is currently built as a technical school with more than 40 classrooms. This layout was well-suited for Project for Empty Space and allows it more room to support artists and creatives in the community.”

Rebecca Jampol, co-director of Project for Empty Space, said the organization cultivates discourse around important social issues through contemporary art. “In conjunction with our 10-year anniversary this coming January, we are thrilled to be moving to our own building at 800 Broad Street in the heart of downtown Newark,” she said. “Project for Empty Space was started in New York City in 2010 as a nomadic project by two women, and now it continues to live in this brick-and-mortar space.”

In the coming year, Project for Empty Space will welcome an array of expanding programs that include its current Artist in Residence Program, Feminist Incubator and Studio Artist Professional Development Initiatives.

Paramount Assets is a family-owned, regional, full-service real estate investment firm specializing in urban property ownership, management and development. The company’s rapidly expanding portfolio currently includes 3.1 million square feet of commercial, multifamily and mixed-use holdings across 25 New Jersey municipalities – including a notably growing foothold in the City of Newark. The company maintains a holistic, vertically integrated approach to real estate development, with in-house acquisition, leasing, legal, accounting, property management and construction teams.

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