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Cushman & Wakefield Arranges Three Sales in Bayonne, New Jersey Totaling Over $4 Million

| October 6, 2016 | 0 Comments

Cushman & Wakefield of New Jersey, Inc.
One Meadowlands Plaza
East Rutherford, New Jersey 07073bayonne

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BAYONNE, N.J., Oct. 7, 2016 – Commercial real estate services firm Cushman & Wakefield has orchestrated the $4+ million sale of three mixed-use assets totaling approximately 47,300 square feet in Bayonne, N.J. Transactions include the $1.175 million all-cash sale of 462 Broadway, 464 Broadway and 15-17 Library Court; the $1.6125 million sale of 813-819 Broadway; and the $1.35 million sale of 544-556 Broadway.

Fahri Ozturk and Lev Kimyagarov, directors in Cushman & Wakefield’s Capital Markets Group, exclusively arranged the sale of 462 Broadway, 464 Broadway and 15-17 Library Court. The sale of 813-819 Broadway and 544-556 Broadway were exclusively arranged by Ozturk.

“In recent years Bayonne has experienced a tremendous amount of new multi-family and commercial development, particularly on Broadway and Avenue E,” said Ozturk. “The city is attracting developers and investors alike due to its exceptional transportation infrastructure; proximity to Manhattan; and pricing that’s more attractive when compared to other communities along Hudson County’s Gold Coast, such as Hoboken and Jersey City.”

462 Broadway, 464 Broadway and 15-17 Library Court are three adjacent, fully occupied buildings. The buildings combine for about 13,000 square feet divided into four residential and four commercial units. Retail tenants include MetroPCS, Boost Mobile and a discount shoe store. “This asset provided a wonderful opportunity for the investor to acquire a 100 percent occupied building with a good mix of tenants in an emerging market,” Ozturk said.

Totaling 16,500 square feet, 813-819 Broadway is a corner property including 9,000 square feet of ground-floor retail and medical office space as well as an open 7,500-square-foot second-floor office component. The medical office and second-floor office spaces, which make up 73 percent of the property, were delivered vacant. The remaining space is occupied by Children’s Specialized Hospital and La Guardiola Pizzeria.

544-556 Broadway – a two-story, 17,770-square-foot building – consists of a ground-floor retail unit and a second-floor office component. The property was delivered vacant upon sale. “This property’s prime location near the 22nd Street Light Rail station, and with more than 50 feet of frontage on Bayonne’s premier retail corridor, made for strong investor interest,” said Ozturk.

 

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About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit or follow @CushWake on Twitter.

 

 

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Category: Cushman & Wakefield of New Jersey, News Releases, Newswire: Latest News

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