Cushman & Wakefield of New Jersey, Inc.
One Meadowlands Plaza, Suite 1100
East Rutherford, New Jersey 07073
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Release Date: Friday, January 24, 2014
Media Contact: Evelyn Weiss Francisco (201) 796-7788
Cushman & Wakefield Awarded Marketing Assignment for the Properties
JERSEY CITY, N.J., Jan. 24, 2014 – Horizon Health Center Inc. is offering a portfolio of two mixed-use buildings and a multi-family development site for sale in Jersey City, and has awarded the marketing assignment to Cushman & Wakefield’s Metropolitan Area Capital Markets Group (CMG). The properties are situated on opposite corners in the heart of McGinley Square in the city.
Included in the offering is 725 Bergen Avenue, a 2,727-square-foot, vacant three-story building that includes 930 square feet of street level retail space on the first floor and two two-bedroom apartments on the second and third floors. The adjoining 727 Bergen Avenue is a 7,072-square-foot vacant three-story office/retail property consisting of a former nightclub in the basement, office space on the first floor and a two-story ballroom on the second and third floors.
And 720-726 Bergen Avenue is a .22-acre land parcel currently in use as a parking lot but slated for multi-family development.
The portfolio is located less than one mile from the Journal Square Path Station, with easy access to the Jersey City waterfront and Lower Manhattan. It is also just blocks from St. Peter’s University in a section of Jersey City that is undergoing a renaissance with new development of housing and retail to support an influx of young professionals.
“This offering represents a rare opportunity to acquire a very visible and critical mass of land and existing buildings in an area that is prime for redevelopment,” said Brian Whitmer, senior director and CMG’s lead contact for the offering.
Based in East Rutherford, N.J., Cushman & Wakefield’s Metropolitan Area Capital Markets Group specializes exclusively in investment sales of office, industrial, multifamily and retail properties throughout New Jersey, New York, Fairfield County, Connecticut and Pennsylvania. The team has completed more than $17 billion worth of transactions since 2000.