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Newark Building Becomes a German Investment

Partial Interest Sale
By Brenan Danchik
February 11, 2005 | 9:27 P.M.

A major German investment group, the Dr. Peters Group, bought 80% of 550 Broad, an 18-story, 291,000-square-foot Class A office building in Newark from Heritage Management Co., which bought the building four years ago. The group paid $45 million, which would value the building at about $160/square foot.

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News | Newark Building Becomes a German Investment