The former bank and medical building at 2 Ferry St. was vacant in 2017 and is now fully leased, Paramount Assets said in a news release. The triangular-shaped building sits adjacent to Newark Penn Station on the corner of Market and Ferry streets.
“In redeveloping Ironbound Plaza, we recognized an excellent opportunity to reposition and repopulate an historically significant property,” Richard Dunn, Paramount Assets’ senior vice president, said in a prepared statement. “7-Eleven is ideally suited to serve the city’s growing residential population, as well as (central business district) commercial occupants. Welcoming another national retail tenant to this property underscores the exciting revitalization currently underway in downtown Newark.”
The 7-Eleven occupies the “tip” of the property and is accessed via its original grand staircase and revolving door, Paramount Assets said. It joins Blink Fitness in the tenant mix.
The location represents the third 7-Eleven at a Paramount property in New Jersey, the firm said.