March 17, 2022 – Reed Blee and Michael Lombardi of Horvath & Tremblay have successfully completed the sale of 350 Market Street in Saddle Brook, New Jersey. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,100,000.
350 Market Street is a two-story commercial building improved by four (4) first floor suites (all leased) and seven (7) second floor office/professional suites (one is leased). Additionally, the Property has a full basement. Three of the five existing tenants have been at this Property for more than 10 years and the other two have all been at the Property for more than 5 years. The Property offers significant upside potential through the lease up of the existing vacant space. The Property is currently 51% occupied. The vacant suites are versatile and most can be combined to accommodate a range of tenant sizes. The Property is situated at the signalized intersection of Market Street and Caldwell Avenue. Market Street is one of the area’s primary retail corridors. Additionally, the Property benefits from outstanding visibility and frontage and immediate access to several area interstates and highways providing convenient access to several surrounding towns and cities. 350 Market Street is 1.2-miles from the Plauderville Train Station and is within 500 feet of numerous public NJ Transit Bus Stops.
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.