HACKENSACK—NAI James E. Hanson closed the sale of a 4,375-sq.-ft. site at 20 East Prospect Street in the downtown area of Waldwick.
The two-story property is located on a one-acre lot and has 3,414 sq. ft. of space on the first floor and 961 sq. ft. on the second, in addition to 35 parking spaces. It is zoned commercial use and permitted uses include retail, restaurants and professional offices.
NAI Hanson vice president Joan Cenicola represented the seller, Wells Fargo Bank, in the transaction. The buyer was Mansueto and Morgan, LLC. Terms of the deal were not disclosed.
According to Cenicola, the new owners are currently leasing space in a strip center next to the property for Andrea's, an Italian restaurant. They plan to renovate the building and relocate the popular eatery to the site.
"The new owners will now have a larger location that meets their expansion needs and additional on-site parking," Cenicola said. "Most definitely, the location was the key factor in selling this property. The owners welcome the opportunity to expand."