March 21, 2022 – Michael Lombardi of Horvath & Tremblay has successfully completed the sale of 75-77 South Washington Avenue in Bergenfield, New Jersey. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $850,000.
75-77 South Washington Avenue is a two-tenant retail plaza improved by a 6,000 square foot building that is 100% leased to the National Council of Jewish Women (the “NCJW”), a successful thrift shop that caters to the local community, and Dollar Mart. The NCJW has been at this location for more than 16 years (since 2005) and Dollar Mart has been at this location for almost 10 years (since 2012). Both tenants are on month-to-month leases. The Property also benefits from full basements under each tenant and approximately 15 parking spaces, which are in extremely high demand and limited supply throughout Bergenfield. The Property is strategically located at the corner of South Washington Avenue, the primary commercial corridor traversing the city, and Bergen Avenue in the heart of the Bergenfield. The Property is surrounded by numerous retailers and business, enjoys close proximity to the award-winning area schools, and enjoys convenient access to the River Edge Train Station (2.5-miles) with service to Manhattan’s Penn Station. The Property is also close to NJ Route 4 (2.5-miles), Interstate 95 and US Route 9W (4-miles), and offers convenient access to the Garden State Parkway, Interstate 80, NJ Route 17, and US Route 46. Bergenfield is a densely populated suburb serving the New York metropolitan area. Bergenfield is 8 miles northwest of the George Washington Bridge and just 15 miles from midtown Manhattan.
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.