The Madison Building at 427 Bloomfield Ave. in Montclair — Courtesy: Pierson Commercial
By Joshua Burd
Saxum Real Estate has tapped Pierson Commercial as its retail leasing agent for two mixed-use buildings in downtown Montclair.
The larger property, located at 427 Bloomfield Ave., includes 2,420 square feet of available retail space across two units, Pierson said. At 475 Bloomfield Ave., a former bank building about a block away, the firm is marketing 6,082 square feet of ground-floor retail space.
Jason Pierson and Neil Ruppert are leading the assignment for the Marlboro-based brokerage firm, noting that both buildings will benefit from office tenants on the upper floors and foot traffic in the downtown.
“We’re very excited to represent Saxum for the retail leasing of these iconic Montclair properties, which are both ideally located within the epicenter of Montclair’s Bloomfield Avenue retail corridor, making them highly sought after for retailers looking to expand in Montclair,” Ruppert said.
Known as The Madison Building, 427 Bloomfield is a 33,000-square-foot historic property. Saxum purchased the building in 2015 with plans to bring new high-end office space to Montclair’s popular downtown.
The firm did the same in 2018 with its acquisition of 475 Bloomfield Ave., a former JP Morgan branch with 25,000 square feet.
“We continue to believe in Montclair as one of New Jersey’s most vibrant and prolific downtowns, and it has been inspiring to see the community and its businesses persevere through the pandemic,” said Matt Wassel, Saxum’s director of leasing. “As we search for the right tenants to occupy these historic assets, our focus is on bringing in businesses that will cater to the needs of Montclair and its residents.”