By Mario Marroquin,
February 17, 2017 at 10:08 AM
HFF sold this two-story building in downtown New Brunswick. - (HFF)
Commercial real estate firm HFF recently announced the sale of a two-story building in downtown New Jersey
Saxum Real Estate purchased the 18,000-square-foot property at 37 Easton Ave., which was marketed by HFF on behalf of the seller.
Financial terms were not disclosed.
There continues to be an active pool of investors chasing assets in suburban downtowns, Marc Duval, the associate director who represented the seller, said. Investors are willing to be aggressive buying assets where they can make significant improvements to reposition an asset and raise rents.
Managing director Jose Cruz, managing director Kevin OHearn, and directors Michael Oliver and Stephen Simonelli were also part of HHFs investment sales team.
The building is located in downtown New Brunswick and is within close proximity of Rutgers University, Robert Wood Johnson Hospital and the New Brunswick Station.
HFF said the property is vacant, and can be configured to a mixed-use property with retail, office or residential.
You May Have Missed... Mario Marroquin
Follow @mars3vega
Mario Marroquin covers real estate. A native of El Salvador, Mario is bilingual in English and Spanish. He graduated from Penn State University and worked in Pennsylvania before moving to New Jersey. His email is [email protected].
http://www.njbiz.com/article/20170217/NJBIZ01/170219834&source=RSS
HFF sold this two-story building in downtown New Brunswick. - (HFF)
Commercial real estate firm HFF recently announced the sale of a two-story building in downtown New Jersey
Saxum Real Estate purchased the 18,000-square-foot property at 37 Easton Ave., which was marketed by HFF on behalf of the seller.
Financial terms were not disclosed.
There continues to be an active pool of investors chasing assets in suburban downtowns, Marc Duval, the associate director who represented the seller, said. Investors are willing to be aggressive buying assets where they can make significant improvements to reposition an asset and raise rents.
Managing director Jose Cruz, managing director Kevin OHearn, and directors Michael Oliver and Stephen Simonelli were also part of HHFs investment sales team.
The building is located in downtown New Brunswick and is within close proximity of Rutgers University, Robert Wood Johnson Hospital and the New Brunswick Station.
HFF said the property is vacant, and can be configured to a mixed-use property with retail, office or residential.
You May Have Missed... Mario Marroquin
Follow @mars3vega
Mario Marroquin covers real estate. A native of El Salvador, Mario is bilingual in English and Spanish. He graduated from Penn State University and worked in Pennsylvania before moving to New Jersey. His email is [email protected].
http://www.njbiz.com/article/20170217/NJBIZ01/170219834&source=RSS