The property, at 2 Ferry St., is located right next to Newark Penn Station.
Paramount purchased the space just last year, adding to its family of 225 properties across the state. The facility is now fully renovated and leased, and Paramount expects to open its new stores in the second quarter of 2018.
“We are creating a residential, retail and commercial hub that takes advantage of the connection of Penn Station to the entire region while helping to create a walkable downtown,” Newark Mayor Ras Baraka said. “The creative reuse of a former bank building for a sports club and retail exemplifies our strategy of preserving Newark’s historic structures and repurposing them to meet today’s needs.”
David Dunkelman of Soloff Realty is serving as tenant broker in the Blink Fitness lease at Ironbound Plaza. Urszula Zoltek from Zoltek Realty represented 7-Eleven.