375-381 Franklin Ave. in Wyckoff — Courtesy: CBRE
By Joshua Burd
CBRE has arranged the $1.75 million sale of a single-story, 3,700-square-foot retail property in downtown Wyckoff.
In a news release Friday, the firm said it represented the seller of the building at 375-381 Franklin Ave. The firm also procured the buyer, although it did not disclose the name of either party.
The CBRE team involved in the deal included first vice presidents Charles Berger and Elli Klapper, along with CBRE’s retail brokerage team of Vice President Samuel Bernhaut and Associate Nicole Nannola.
“Wyckoff, and affluent Bergen County in general, are areas in very high demand,” Berger said. “Significant opportunities exist for both sellers to capitalize on increased pricing on well-situated, well-maintained properties with a value-add component, as well as for buyers that can take advantage of the low interest rate environment, while finding properties that offer stability and upside potential in the suburban northern New Jersey retail market.”
CBRE has also been retained by the buyer to act as the exclusive leasing agent, working to either fill the remaining vacancies or to fill the entire building with a single tenant, the news release said. The property also has on-site parking.
