Change Audible in Newark as HQ deal is signed.

In one of the first major business sector accomplishments of the new Booker administration, Audible, Inc. is relocating its corporate headquarters from Wayne, N.J. to 1 Washington Park, a premier office tower located in downtown Newark's booming North Broad Street District.

The seven-year, 49,600 s/f lease will place Audible in the top two floors of the 17-story building. The new headquarters will include a large studio installation intended to accelerate audible.com's successful original audio production and educational programming efforts.

Mayor Cory A. Booker commented, "Traditionally, businesses have focused on the office buildings around Penn Station, but the investment in the new downtown Light Rail connection has expanded the attraction of Newark. With well-respected cultural institutions, Bears Stadium, Broad Street Station, Rutgers' expansion and now Audible's relocation all in close proximity to Broad Street Station, a new gateway on the northern end of downtown Newark has emerged."

"We're very impressed with the Fidelco Group's plans for this property," said Donald R. Katz, founder and CEO of Audible. "We look forward to becoming active participants in the Newark Renaissance."

The lease signing comes soon after Rutgers-Newark finalized a deal to purchase the first 11 floors of 1 Washington Park and relocate its business school to the building. Between the Rutgers' purchase and Audible lease signing, more than 75% of the building was taken off the market in the past three weeks.

Marc E. Berson, managing member of Washington Park Fidelco, LLC and Fidelco Group chairman said the remaining office portion is currently undergoing an $11 million renovation.

Several tenants have already entered lease commitments at 1 Washington Park in advance of renovations being complete.