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Cushman & Wakefield Named Sales Agent for Clifton, N.J. Office Building

1333 BroadCushman & Wakefield of New Jersey, Inc.
One Meadowlands Plaza
East Rutherford, New Jersey 07073

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Media Contact: Evelyn Weiss Francisco: evelyn@caryl.com / (201) 796-7788 / www.twitter.com/carylcomm

CLIFTON, N.J., May 4, 2016 – Cushman & Wakefield has been retained to sell 1333 Broad Street, a two-story, 23,100-square-foot professional office building with upside potential in Clifton. The commercial real estate services firm’s team of David DeMatteis, Andrew Schwartz, Brian Whitmer, and Mina Shehata are handling the assignment.

“This building is situated on what has been referred to as ‘doctors’ row’,” said DeMatteis. “Surrounding uses are primarily medical, as well as attorneys. It also has proximity to nearby St. Joseph’s Regional Medical Center and Hackensack Mountainside Hospital, and is close to the Hackensack Medical University project on Route 3 and Montclair State University’s nurse training division. As such, it would be an excellent ownership opportunity for a doctor or group of doctors.

“We have also had a tremendous number of inquiries from daycare operators,” said DeMatteis. “The building can provide ground floor space for an infant room and has a great pick up and drop off area. It is also very close to high-end population centers, notably Clifton’s Allwood neighborhood and Upper Montclair.”

Originally constructed in 1963, expanded in 1980 and continuously upgraded over the years, “it has been owner-occupied for more than 20 years and has been very well maintained,” said Schwartz. “With ongoing renovations, it has been kept up-to-date.”

“The building has two sections connected by a sky bridge,” said Whitmer. “A buyer could put their office in one section and lease the other section to a doctor or daycare operator. The options range from the entire building being available for occupancy by a user/investor, or approximately 5,000 square feet of existing tenants could remain and provide additional cash flow, or additional space could be made available for lease.”

Situated on 1.54 acres, 1333 Broad Street offers substantial surface and covered parking—a five per 1,000-square-foot ratio—as well as ample plumbing and an elevator, making it suitable for medical and daycare use. Nearby public transportation provides service to New York City every nine minutes, and the site provides excellent access to Route 3 and the Garden State Parkway.

“The building is visible from the Garden State Parkway and offers the potential for signage facing the Parkway,” said DeMatteis. “It already has signage facing busy Route 3. With all of these positive factors, we are seeing considerable interest in this availability and expect to be able to make an announcement very soon.”

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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 www.cushmanwakefield.com or follow @CushWake on Twitter.

 

 

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

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