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NEWARK-Commerce Bank has 400 branches in seven states and DC,with almost half of those branches in New Jersey. But the CherryHill-based has had no retail presence in the Garden State's largestcity, until now. Bank officials say they have acquired a .25-acreDowntown site on which they will build a 4,000-sf, one-and-a-halfstory branch.
The new branch site is at the corner of Mulberry and Clintonstreets, across from the Gateway IV office tower. Commerce boughtthe site from H.E. Urban Renewal Corp., a local group, for anundisclosed price. Both the buyer and seller were represented inthe transaction by Stan Kurzweil, senior vice president in theSomerset office of Colliers Houston & Co.
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