Cushman & Wakefield Arranges Three Sales in Bayonne Totaling Over $4 Million
On Oct 7, 2016
Cushman & Wakefield is pleased to announce the following closed sales in Bayonne, New Jersey:
A premier commercial assemblage of three adjacent, fully-occupied, mixed-use buildings at 462 Broadway, 464 Broadway and 15-17 Library Court was sold in an all-cash transaction valued at $1,175,000 or $90.38 per square foot. The buildings combine for approximately 13,000 square feet divided into four residential units and four commercial units. Current retail tenants include MetroPCS, Boost Mobile and a discount shoe store. Cushman & Wakefield’s Fahri Ozturk and Lev Kimyagarov exclusively arranged the transaction.
A corner, 16,500-square-foot, mixed-use property at 813-819 Broadway was sold in a transaction valued at $1,612,500 or $97.73 per square foot. The property is comprised of a 9,000-square-foot, ground-floor retail and medical office space as well as an open 7,500-square-foot office component on the second floor. The medical office unit and second-floor office space, which makes up 73 percent of the property, were delivered vacant. The remainder is occupied by Children’s Specialized Hospital and La Guardiola Pizzeria. Cushman & Wakefield’s Fahri Ozturk exclusively arranged the transaction.
A two-story, 17,770-square-foot, mixed-use asset at 544-556 Broadway was sold in a transaction valued at $1,350,000 or $79.90 per square foot. The property, which consists of a ground-floor retail unit and a second-floor office component, was delivered vacant upon sale. Its prime location near the 22nd Street Light Rail station and over 50 feet of frontage on Bayonne’s premier retail corridor made for strong investor interest. Cushman & Wakefield’s Fahri Ozturk exclusively arranged the transaction.