The Blau & Berg Co. announced it brokered the sale of an approximately 30,500-square-foot retail space, located at 45-57 Edison Place in Newark, to Millburn-based Iron Ore Properties.

Christian Benedetto Jr., Alex Conte, Jason Crimmins and Peter Murano of Blau & Berg were the procuring brokers representing both the buyer and seller in the transaction.

Subsequently, the lease of 3,465 square feet of retail space was secured for Iron Ore Properties LLC to Loft Life Venue LLC.

“The building has location, location, location,” said Benedetto, director of business development. “The property offers a premier location for other retail and office users being directly across from the Prudential Center and touching the Championship Plaza in the heart of Newark’s central business district. It is at the entrance to Gateway Center, featuring covered walkways to and from Newark Penn Station.”

Blau & Berg says that 45-57 Edison Place is in a prime location for a retail space, specifically in the food and beverage industry. With a more than 300,000 population living within 3 miles, this property is in the largest city in New Jersey. There are more than 200,000 daytime employees and 60,000 students and faculty from four major universities in the area.