August 1, 2022 – Michael Lombardi of Horvath & Tremblay has successfully completed the sale of The Livery in Upper Montclair, New Jersey. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $3,925,000.
The Livery is located at 209 Cooper Avenue in Upper Montclair, New Jersey. The Property consists of a two-story, 13,862 square foot office building that is 100% leased to a diversified mix of sixteen (16) tenants. The Livery is situated on a 0.32-acre parcel and offers exceptional parking for Upper Montclair; there is an easement with 44 Northview Avenue allowing for access to a rear parking lot for a total of 44 spaces. The Property is situated in the business district of the Upper Montclair neighborhood, which is centered around the intersection of Valley Road and Bellevue Avenue. Cooper Avenue is directly off of Valley Road and the location offers convenient access to a number of retail, service and transportation amenities within walking distance. The Property is 0.3-miles from Upper Montclair Train Station and 1.4 miles from Montclair State University (the second largest University in NJ). The Property also benefits from its proximity to numerous local public schools, interstates and state highways (Garden State Parkway, NJ Route 3, US Route 46). Montclair is a small bedroom suburb of New York City, located in the heart of Essex County within the New York metropolitan area. The borough, along with Edison, is a regional commercial hub for central New Jersey. The affluent and densely populated area is 11-miles west of New York City.
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.