333 Bloomfield Ave. in Caldwell — Courtesy: NAI James E. Hanson
By Joshua Burd
Wells Fargo has sold a corner bank building in downtown Caldwell, paving the way for its new owner to convert it to a mixed-use property for office and retail tenants.
Representing the seller, Wells Fargo, real estate services firm NAI James E. Hanson brokered the sale of the 7,427-square-foot structure at 333 Bloomfield Ave. Terms were not disclosed.
Located at the corner of Bloomfield and Smull avenues, the two-story building features 5,107 square feet of retail space on the first floor, 2,320 square feet of office space on the second floor and 2,880 square feet of basement and crawl space, NAI Hanson said in a news release. The buyer, 333 Bloomfield LLC, plans to convert the property to a multitenant setting with leasable retail and office space.
NAI Hanson’s Joan Cenicola arranged the transaction on behalf of the Hackensack-based firm.
“Originally built as a bank, 333 Bloomfield showcases the opportunities presented by well-located, adaptable spaces in the northern New Jersey market,” Cenicola said in a prepared statement. “My experience in this market and with buildings of this type enabled me to market the space properly to attract a qualified buyer.
“This sale will provide the new owner with a stable cash flow-generating asset while bringing new businesses to the Borough of Caldwell.”
