356 Central Ave. in Jersey City — Courtesy: NAI James E. Hanson
By Joshua Burd
Wells Fargo has sold a two-story former branch location in the Jersey City Heights neighborhood, brokers with NAI James E. Hanson announced Wednesday.
The real estate services firm represented the bank in the sale of 356 Central Ave., a 3,401-square-foot building within the city’s Central Avenue Special Improvement District. In announcing the deal, NAI Hanson touted the neighborhood’s ongoing revitalization, with capital improvements and redevelopment projects in various stages of approval and construction that will add value to the retail site as an investment property.
Joan Cenicola and John Schilp completed the assignment. Terms were not disclosed.
“Jersey City, and particularly Central Avenue, is undergoing a major transformation with an array of redevelopment projects currently underway,” Cenicola said. “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.”
Located about two blocks east of John F. Kennedy Boulevard, 365 Central Ave. features 10 private on-site parking spaces, proximity to municipal parking and 25 feet of frontage along busy commercial thoroughfare.
