An aerial view of 262-270 Broad St. in Newark — Courtesy: Weiss Realty
By Joshua Burd
A nearly 12,000-square-foot retail property in Newark is under new ownership following a sale arranged by Weiss Realty.
In a news release, the brokerage firm said it represented the seller in the trade of the former La Furniture Warehouse store at 262-270 Broad St. An investment entity affiliated with Weiss Realty, in partnership with CHT Group of Englewood Cliffs, acquired the 11,726-square-foot property.
Matthew Weiss handled the assignment for the Moonachie-based firm. Terms for not disclosed.
“We recognized that the property’s prime location, in the Central Ward of Newark off Broadway and Bloomfield Avenue with easy access to Route 21 in a highly populated area with visibility, represented a great development opportunity and we were able to complete the sale quickly,” Weiss said.
The one-story retail building has 128 feet of frontage on Broad Street and parking for 20 cars.