Good Things For New Jersey’s Largest City
What happens when you blend longevity with fresh vision? Good things, according to Miles Berger, Chairman and Chief Executive Officer of The Berger Organization. This is especially true in Newark, NJ, where Berger is both recognized as an institution in the city’s revitalization and respected for providing ongoing, strategic foresight to benefit its future.
Established in 1929 by two brothers, Benjamin and Nathan Berger, the privately held firm has evolved from an owner/operator of nearly 25 apartment and rooming houses throughout the Bronx, Manhatten, Rockland County, and Jersey City, to one of the region’s leading diversified real estate development and management companies.
Under the direction of the firm’s second generation, Miles Berger and his brother, Bruce Berger, President, the company was among the first to anticipate Newarks’ resurgence. Today, approximately half of its 1 milion square foot portfolio involves Newark properties.
Berger purchased its flagship Newark asset, the 176-room, 15-floor Best Western Robert Treat Hotel, and the adjacent 100-percent occupied, 100,000 square foot Robert Treat Center office building in 1986. Its Newark holdings also include the former Fireman’s Insurance Building, a 100-percent occupied, 160,000 square foot office building at 10 Park Place; and the newly aquired historic Military Park Building, a 250,000 sqiare foot office tower at 60 Park Place.
“We became involved in Newark beacuse we apreciated the city’s rich history and saw its potential as a destination of choice for business, shopping, dining, entertainment, sports and culture,” Miles Berger said. “Two decades later, Newark is home to three world-class entertainment and cultural venues- including the newly completed Prudential Center, Riverfront Stadium and New Jersey Performing Arts Center- and it offers the best transportation links in the state. Looking ahead, New Jersey’s largest city is poised for continued urban repositioning and development.”
As the city continues to move forward, so does The Berger Organization. Recently, Miles’ son, Brendan Berger, joined the company as Vice President. The 25-year-old is overseeing the company’s Park Place office holdings and is directing an aggresive $5 million renovation and property repositioning of the Military Park building.
“In an industry and market dominated by seasoned commercial real estate professionals, Brendan represents a new generation of movers and shakers dedicated to enhancing Newark’s image as the place for leisure and doing business,” Miles Berger said. “As a company, we are committed to maintaining and enhancing our energy and involvment in this vital market.”
What’s next? Berger and Cogswell Realty recently purchased the Griffith Building, 605 Broad Street, and Hahne Building, 609 Broad Street. The combined 600,000 square feet of space has been targeted for conversion into luxury residential apartments that include retail component and indoor garage. Additionally, the company is involved in Tucker Development’s planned adaptive reuse of the three-acre former Newark Holiday Inn site for a mixed-use transportation hub complex.
“These projects represent the next phase in Newark’s renaissance,” Miles Berger said. “Residential and transit-oriented mixed-use development really are the keys to taking Newark to the next level as a true 24/7 destination city. Just as we are proud of our past contributions to this great city, we are pleased to be part of its bright future.”
Berger’s strong commitment to Newark is further reflected in the firm’s involvement in the Newark Regional Business Partnership (NRBP) and that group’s “Advantage Newark,” a new, multimedia campaign designed to attract new and increased investment and positive attention to the city. Addtionally, Miles Berger is a member of the board of the Newark Boys Chorus School and past member of the board of the Newark Public Library, Newark Performing Arts Center, Newark YMCA and Newark Economic Development Corporation.