RIDGEWOOD, NJ-CB Richard Ellis has been named the exclusivesales agent for a 30,611-square-foot mixed-use building, located at54-58 E. Ridgewood Ave. here. CBRE's Dean Marchi, first vicepresident, is spearheading the marketing efforts on behalf of theowner.

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"Ridgewood has an upscale and vibrant downtown shopping andliving community, making the area desirable for buyers given itslong-term investment possibilities and potential for stablereturns," says Marchi. "The building is a two-story facility thatis being delivered vacant. Previously occupied by a retail bankbranch, the first floor is currently laid out for retail and officeuse, while the second floor is designed for office." However, headds that the property's B-1 business zoning allows potentialbuyers multiple options in terms of alternate usage, includingretail, office and residential.

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Built in 1930, the building has a 60-foot frontage and 50dedicated parking spaces in two lots under assignable land leases.It also has several expansion options, including the possibility ofextending the interior mezzanine level to create a second floor andadding a second story to the rear portion of the existing building."This property offers so much more than just a convenient andeasily accessible location; its classic 1930s architectural designand feel make it recognizably different from surrounding propertiesin the area," continues Marchi. "Ultimately, we are confident thatwe will identify an opportunistic buyer for this property."

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