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| Mixed-Use Building, Broad and Front Streets, Downtown Red Bank, NJ |
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| Marc Duval |
FLORHAM PARK, NJ –– HFF announces the sale of a
27,033-square-foot, generational, mixed-use property in the New York City-area
community of Red Bank, New Jersey.
The HFF team marketed the property on behalf of the seller, Broad
Street Realty Association, LLC. Saxum Real Estate purchased the
property free and clear of existing debt.
The iconic three-story building is situated at the corner of Broad
and Front Street in downtown Red Bank, an affluent town named “Third Best Town
in the U.S.” by Smithsonian Magazine and approximately 25
miles south of New York City.
The property’s transit-oriented location allows
access to New York via train, ferry and bus.
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| Jose Cruz |
With a “Walker’s Paradise” Walk Score® of 96,
the property’s location in a vibrant downtown area places it among theaters,
art galleries, restaurants, retailers, several yachting and rowing clubs and
luxury waterfront homes.
2-10
Broad Street consists of ground-floor retail fully leased to Urban Outfitters
and upper-floor boutique office space.
The property has views of the Navesink
River from the upper floor and a rear terrace for amenity space.
The HFF investment advisory team representing the seller included
director Marc Duval, senior managing director Jose Cruz, managing
director Chris Munley and senior director Stephen Simonelli.
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| Chris Munley |
“We continue to see investors targeting amenity-rich markets that
are transit friendly and within close reach of urban areas that will be
attractive to millennials,” Duval stated.
HFF and Holliday GP Corp. ("HFF") are licensed New
Jersey real estate brokers.
Saxum Real Estate is a vertically integrated privately-held real
estate investment and development company that serves as owner, operator and
developer of all assets in its portfolio.
Saxum specializes in creating value
through repositioning and developing assets in transit-oriented markets with
high growth potential.
For more information, please contact:
KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
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