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±60,560 SF VISUAL ARTS BUILDING |
Jersey City, NJ |
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The Offering |
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CBRE has been retained as the exclusive advisor for the fee interest sale of lands, building and fixtures owned by New Jersey City University (“NJCU”) located at 100 Culver Avenue in Jersey City, New Jersey (the “Property” or the “Site”). The non-contingent offering consists of one municipal tax lot located on Culver Avenue and West View Court for a total of ±1.28 acres improved by an approximately 60,560 SF visual arts building adjacent to the John J. Moore Athletics and Fitness Center.
The Property presents a unique opportunity for an investor or developer to purchase a state-of-the-art building perfectly suited for its intended use, while located within a transformational area of the sought after Jersey City’s west side. Featuring spacious classrooms, art labs, auditorium and communal gathering areas, all with access to the vast area amenities and transportation network. Alternatively, the property lends itself to urban infill redevelopment, should transforming the visual arts center into a mixed-use or residential development be desired.
The ±1.28-acre property spans nearly half a city block, with almost 600 feet of frontage on two public right of ways, Culver Avenue and West View Court, and is located well within walking distance (0.3 miles) to the New Jersey Transit West Side Ave Light Rail station. Today, the Site is located in the University District surrounded by R-1 zones.
The Property is being offered in its “as is” “where is” condition vacant up transfer and not contingent upon any municipal or other governmental approvals for alternative uses.
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Property Overview |
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The property contained within this offering is approximately 1.28 acres containing a state-of-the-art, two-story building housing two galleries, auditorium, outdoor sculpture space, ample exhibition space along with offices, art studios and classrooms throughout.
The property was built in 2003 with additional capital improvements made in 2011. The building is heated and cooled using a non-condensing hot water boiler and a 300-ton packaged direct gas-fired absorption chiller on the roof. The building has a diesel generator to provide emergency backup electricity. There is also a passenger elevator in the building. Total gross square feet are approximately 60,500, perfect for conversion to any number of educational uses. In addition to adaptive reuse of the building for continued educational use, the surrounding neighborhood has many high-density residential developments in various stages of completion. The nature of the property in conjunction with an amenity rich area make this an ideal location. The transit-oriented site, just over a quarter mile from the New Jersey Transit West Side Ave Light Rail station, provides easy commuter access along with many area amenities.
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Contact Information |
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Robert L'Abbate
Executive Vice President
+1 (201) 776-6040
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Allyson L'Abbate
Associate
+1 (201) 712-5645
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THIS IS A MARKETING COMMUNICATION© 2024 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. Details about the personal data CBRE collects and why, as well as your data privacy rights under applicable law, are available at CBRE – Privacy Policy. |
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