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Saiber withdrawing from its Newark roots

NULLAfter nearly 60 years in Newark, law firm Saiber LLC is leaving the Brick City for the suburbs. The 60-lawyer firm expects to relocate its headquarters to 18 Columbia Turnpike, a 180,000-square-foot Class A office building in Florham Park, in November, New York-based real estate developer Kushner Cos. announced last week.

Saiber, founded in Newark in 1950, currently occupies two-and-a-half floors, or 43,000 square feet, at Advance Realty Group’s One Gateway Center. The firm will lease more than 54,000 square feet of office space at 18 Columbia Turnpike, and will take over the majority of what had formerly been the headquarters space for Kushner, prior to the developer’s move to Manhattan in 2008.

The main reason for Saiber’s move was to be more centrally located in the state, according to William Maderer, managing member at the firm. In addition to Newark, Saiber’s attorneys regularly appear in federal court in Trenton and Camden, he said. The average rental rate for Class A office space in Newark is $31.59 per square foot, compared to $33.33 a foot in Florham Park, according to Cushman & Wakefield, which represented both parties in the deal.

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