NAI Fennelly announces it has negotiated the sale of a 6,600-square-foot mixed-use building at 17-19 Model Avenue in the heart of historic Hopewell Borough, N.J. Jerry Fennelly, SIOR represented the seller, Bregenzer Properties, in the transaction.
17-19 Model Avenue is a 2-story freestanding mixed-use building featuring four fully leased first-floor office spaces and two residential units on the second story located within Hopewell’s historic central business district. Set among a variety of professional offices and retail establishments, the property is close to all major roadways through the Borough, including Broad Street (CR-518/654), Princeton Avenue (CR-569) and Hopewell-Westerville Rd./N. Greenwood Ave.
Hopewell is a dynamic, vibrant and historic community, and among the most desirable locations in central New Jersey. Hopewell’s location offers convenient and ready access to Princeton, Philadelphia, Trenton and New Brunswick. New Jersey Transit has proposed re-opening the West Trenton passenger rail line, which, if approved and funded, would provide rail service from a proposed Hopewell station directly connecting to Philadelphia’s SEPTA system, and to New York City via the Raritan Valley line.
“This building is an outstanding asset that represents a strategic opportunity for the new owner to realize tremendous long-term value,” said Fennelly. “We were happy to work closely with our client to secure a buyer for their unique asset and enable them to reach their financial goals.”