August 31, 2021 – Michael Lombardi of Horvath & Tremblay has successfully completed the sale of 125-131 East Broad Street in Westfield, New Jersey. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,000,000.
125-131 East Broad Street is comprised of two adjacent mixed-use Properties that consists of seven (7) suites, three (3), vacant commercial suites on the first floors, and four (4), vacant residential units. The two buildings have a total of 7,022 square feet on 0.14 acres of land. The property offers a rare opportunity to renovate and lease up prime real estate in the heart of Westfield, New Jersey. The property is situated 500 feet from the signalized intersection of East Broad Street and N Avenue W, the area’s primary commercial corridor. The property is within walking distance of Stop & Shop, Shop Rite, Trader Joe’s, Walgreens, Chipotle, Five Guys, and Starbucks. The property is also within walking distance of several area schools including Westfield High School. 125-131 East Broad Street is 0.3-miles from the Westfield Train Station with service to Manhattan’s Penn Station on the Raritan Valley Line. The property also benefits from its proximity to numerous interstates and state highways (Garden State Parkway, Interstates 95 & 78, and US Routes 22 and 9). The property is also less than 10-miles from Newark International Airport.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.