If you check the specs on the Netgear device you will see that it has a Coax F connector for the single WAN port.

I cannot find a manual anywhere. If someone can find a PDF version I will be glad to read it.

The Netgear site describes this unit as a "Commercial Cable Router" so hopefully it has the required features to allow the IT guy to configure this device to route one of static IP addresses to one of the LAN ports and the other static IP to another of the LAN ports.

But it might not - the LAN ports may simply be part of a dumb switch. Without the manual I cannot be sure - I'm simply making an educated guess based on other gear I have used.

If this device was to be placed in "bridge mode" (assuming that is possible) then you would need another router to provide the routing/firewall/etc functions it currently provides.