Paramount Assets acquires Newark property

Elana Knopp//July 9, 2018//

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Paramount Assets has added 560 Broad St. to its Newark property portfolio.Paramount Assets has added 560 Broad St. to its Newark property portfolio.

The acquisition includes a 33,000-square-foot, four-story office building and an 18,000-square-foot neighboring space that previously housed the Broad Street Café and Little Theatre. Financial terms were not disclosed.

Located in the University Heights area of downtown Newark, the properties offer adaptive reuse potential, according to Paramount Senior Vice President Richard Dunn.