Fidelco Founder Marc Berson Dies at 79

Marc Berson, a key figure in the development of Newark, died on Dec. 2 following a short illness. He was 79.

Berson was born in the New Jersey city and spent most of his career focused on his hometown. He received his bachelor’s degree from Rutgers in 1965, then his JD from Rutgers’ law school three years later, going on to build his own firm.

Much of Berson’s professional legacy, however, was in real estate. In 1981 he founded the Fidelco Group, a firm that owned and developed commercial, retail and industrial properties, not only in New Jersey, but also in New York, Florida and Ohio. The business is still going; his family took up the mantle on his business ventures.

Fidelco’s notable real estate projects include the five-year, $60 million restoration of 494 Broad Street in Newark, which was vacant when Berson acquired it in 2010, according to NJ.com. He also advised on numerous real estate projects, such as the development of the 245-unit One Theater Square — Newark’s first major apartment building in 40 years upon its completion in 2018 — and NJPAC’s 300,000-square-foot studio development in Newark’s South Ward, set to be operated by Lionsgate.

Projects in recent years have included a 140,000-square-foot refrigerated warehouse in Elizabeth and the redevelopment of Harbor Station.

“Marc has singularly changed the appearance and function of Newark’s downtown,” philanthropist Ray Chambers said in a statement. “There is no one whom I respect more than Marc.”

Berson also led philanthropic and other business efforts, co-founding a nonprofit that provides programs and support for brain injury survivors, founding NJPAC and serving as the chair of RWJ Barnabas Health Board of Trustees. Berson is survived by his wife of 34 years, Randi, his sister, three children and six grandchildren.