Wells Fargo Sells 2-Story Building In Caldwell

CALDWELL, NJ — Wells Fargo has sold a two-story, 7,427-square-foot retail building on the corner of Bloomfield and Smull Avenues in downtown Caldwell, according to a news release.

The buyer, 333 Bloomfield LLC, will benefit from “a stable cashflow generating asset” from the property – located at 333 Bloomfield Avenue – while bringing new businesses to the Borough of Caldwell, according to real estate firm NAI James E. Hanson, which brokered the deal.

No sales price was provided in the firm’s announcement.

“Originally built as a bank, 333 Bloomfield showcases the opportunities presented by well-located, adaptable spaces in the northern New Jersey market,” said NAI Hanson’s Joan Cenicola.

Here’s how the firm described the property:

“Located in the heart of downtown Caldwell on the corner of Bloomfield and Smull Avenues, the two-story building features 5,107 square feet of retail space on the first floor, 2,320 square feet of office space on the second floor and 2,880 square feet of basement and crawl space. The buyer plans to convert the building to a multi-tenanted space with leasable retail and office space. The property’s location at a lighted intersection in the middle of the Caldwell Business District provides a highly accessible space and a great opportunity for prospective retail and office tenants.”

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Photo: NAI Hanson