Prime 11,300 sq ft Commercial Opportunity Located Terminal Area of Hoboken, New Jersey
January 25, 2011
The Carlton Exchange is pleased to announce a prime 11,300 sq ft commercial opportunity. The subject property consists of a three-story building consisting of a total area of 11,300 gross square feet located in Hoboken, New Jersey. The subject is a recently restored street-oriented historic office building that could support a wide variety of commercial and residential uses including retail, restaurant, corporate headquarters, prime office, and live-work space steps away from the Hoboken Path Station as well as New Jersey Transit bus, ferries and trains.
The subject is currently configured for a single tenant; however, it is possible that the building could be sub-divided. The location of the subject is considered given excellent visibility, strong local demand generators and public transportation services.
The asset is being offered in a competitive Sealed Bid Auction. Prospective qualified bidders may bid on this individual asset as well as the other assets and portfolios which are being offered through the Carlton Exchange (www.carltonexchange.com).
Indicative Bid Due Friday, February 4th
Final Bid Due Monday, February 18th
Below is a description of some of the exceptional attributes of this infill commercial real estate property.
• Prime Commuter-Oriented Location: Hoboken Terminal is one of the New York Metropolitan area’s major transportation hubs. It is served by nine New Jersey Transit (NJT) commuter rail lines, one Metro-North Railroad line, various NJT buses and private bus lines, two of the three Hudson–Bergen Light Rail routes, the 24-hour, three-tracked Port Authority Trans Hudson (PATH) rapid transit system, and the weekday NY Waterway-operated ferries to Manhattan.
• Historic Character with Excellent Frontage: Beyond the cobble stone street and historic façade, investors have the ability to capitalize on the property’s unique and fully resorted, high-quality 19th century interior. The subject’s first and second floors boast of over 15-foot ceiling, a central stained glass rotunda, and New York views. The basement has been fully finished to provide additional office space.
Large Amount of Pedestrian & Vehicular Traffic: With frontage along and visibility from the Terminal, the subject is located in the gateway to the city. More than 50,000 people use the terminal daily, and Hudson Place literally connects the transportation hub to the rest of the city as well as Washington Street corridor, Hoboken’s main commercial spine.
For Additional Information Contact:
Joe Korbar – MD and Co-Head of Loan Sales
212.716.5627 / jkorbar@carltongroup.local
Justin Piasecki – Senior Vice President
212.716.5619 / jpiasecki@carltongroup.local
Robert Hall – Senior Associate
917.332.2097 / rhall@carltongroup.local
Aaron Iskowitz – Analyst
212.716.5626 aiskowitz@carltongroup.local
To view this asset sale and to access the due diligence materials and bidding instructions associated therewith as well as the other asset sales which are being offered, register on Carlton’s proprietary website (www.carltonexchange.com)
