NAI Hanson negotiates sale of retail building in Jersey City

NAI James E. Hanson, a commercial real estate firm based in Teterboro, announced on Wednesday it has negotiated the sale of a retail building in Jersey City.

The 3,401-square-foot property at 356 Central Ave. is situated in the heart of Jersey City Heights in the Central Avenue Special Improvement District. The two-story asset has 10 private on-site parking spots, proximity to municipal parking, 25-feet of frontage along a main commercial thoroughfare, and strong area demographics.

NAI Hanson’s Joan Cenicola and John Schilp represented the seller, Wells Fargo.

“Jersey City, and particularly Central Avenue, is undergoing a major transformation with an array of redevelopment projects currently underway,” Cenicola said. “This deal exemplifies the sustained strong demand for investment properties in the area and we were pleased to ensure our client secured fair market value for such an in-demand asset while helping contribute to the revitalization of one of New Jersey’s most vibrant communities.”

Financial terms were not disclosed.