17-19 Model Ave. in Hopewell Borough — Courtesy: NAI Fennelly
By Joshua Burd
A real estate firm has sold a 6,600-square-foot office and residential building outside Princeton, in a newly completed transaction by NAI Fennelly.
The brokerage on Wednesday said it represented Bregenzer Properties in its disposition of 17-19 Model Ave. in Hopewell Borough. An undisclosed buyer purchased the two-story property, which is home to four fully leased office spaces and two residential units on the second floor, in the municipality’s historic central business district.
“This building is an outstanding asset that represents a strategic opportunity for the new owner to realize tremendous long-term value,” NAI Fennelly’s Jerry Fennelly said. “We were happy to work closely with our client to secure a buyer for their unique asset and enable them to reach their financial goals.”
In announcing the deal, Fennelly cited the building’s proximity to key thoroughfares and to destinations such as Princeton, Philadelphia, Trenton and New Brunswick. It also sits among other professional buildings and retail offerings in borough.