262 Broad St. in Newark — Courtesy: Weiss Realty
By Joshua Burd
A corner retail property in Newark is under new ownership and will soon have a new use, following a $1.3 million sale arranged by Weiss Realty and Pierson Commercial.
In a news release, Weiss Realty said the 11,726-square-foot property at 262 Broad St. is slated to be developed into a DaVita Dialysis Center. The single-story building was formerly owned and occupied by a business known as La Furniture.
Matthew Weiss of Weiss Realty represented the seller, an investor group managed by Jaime Weiss. Ryan Starkman of Pierson Commercial represented the buyer, Palestra Real Estate Partners.
“This sale exemplifies the continued demand by investors to acquire commercial and residential properties in Newark,” said Matthew Weiss, vice president of the Moonachie-based firm.