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.

"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.

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."