Jersey City, N.J. (February 19, 2020) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it negotiated the sale of a 3,401-square-foot retail building at 356 Central Avenue in Jersey City, N.J. NAI James E. Hanson’s Joan Cenicola and John Schilp represented the seller, Wells Fargo.
Situated in the heart of Jersey City Heights in the Central Avenue Special Improvement District, 356 Central Avenue is ideally positioned in the market. Standing at 3,401 square feet, the two-story retail property features ten private on-site parking spaces, proximity to municipal parking, 25’ of frontage along one of the main commercial thoroughfares in Jersey City, and strong area demographics with over 111,000 people residing within a one-mile radius.
Jersey City’s Central Avenue is currently in the midst of major redevelopment with capital improvements and redevelopment projects in various stages of approval and construction, which will bring new businesses to the area and enhance the community.
“Jersey City, and particularly Central Avenue, is undergoing a major transformation with an array of redevelopment projects currently underway,” said Cenicola. “This deal exemplifies the sustained strong demand for investment properties in the area and we were pleased to ensure our client secured fair market value for such an in-demand asset while helping contribute to the revitalization of one of New Jersey’s most vibrant communities.”