[Nexis4Jersey]

4,200 sq. ft. Journal Square property sold for $1.2M

By Eric Strauss March 11, 2015 at 4:38 PM

A retail-and-residential property in Jersey City's Journal Square area has fetched $1.2 million, according to commercial real estate services firm CBRE.

The 4,200-square-foot, three-story building at 2866 John F. Kennedy Blvd. has a Subway restaurant in the ground-level retail space, and occupied multifamily apartments on the upper two floors, CBRE said Wednesday in a news release.

“The CBRE Investment Properties team is one of the most active in the Jersey City area, having closed three deals in the last month valuing approximately $25 million,” Charles Berger of CBRE said in a prepared statement. “Journal Square is one of the hottest markets in the Tri-State region and we just recently put three more deals into contract for record pricing, with several more on the way.”

http://www.njbiz.com/article/2015031...-sold-for-$12M