820 Bloomfield Ave. in West Caldwell — Courtesy: NAI James E. Hanson
By Joshua Burd
A local developer has acquired a former gas station site in West Caldwell that has approvals to be rebuilt as a retail bank, in a sale brokered by NAI James E. Hanson.
The real estate services firm said Wednesday that it represented both parties in the sale of 820 Bloomfield Ave., a 0.8-acre, 34,622-square-foot lot at a busy corner in the township. The seller was Lourenco Service Center LLC, while the buyer was Manzo-Doren Organization of West Caldwell LLC.
NAI Hanson’s Joshua Levering and Gary Sauerborn handled the assignment.
“No two deals are alike and it takes an experienced team and professional brokers to navigate these complex and, often, lengthy deals,” Levering said. “Working directly with legal counsel, seller and a team of other professionals, we were able to utilize our experience and market knowledge to ensure all our clients’ needs were addressed.”
The property is the former home of a Shell gas station, offering 200 feet of frontage at the busy intersection of Passaic and Bloomfield avenues, according to a news release. The intersection is zoned for a wide range of uses and approved for a freestanding bank with a drive-thru.
The Manzo-Doren development group of West Caldwell has completed the purchase for redevelopment.
“The final deal took numerous years but was mutually beneficial for all parties involved,” Levering said. “It allowed ownership to sell the property for an acceptable amount while also providing new ownership an opportunity to redevelop this well-located parcel of land.”
