Chase Acquires Retail Building In Waldwick For $2.2M From Villa Restaurant Properties

A 3,600-square-foot retail building located at 53 Franklin Turnpike in Waldwick was sold for $2.2 million. Chase purchased the property from Villa Restaurant Properties Inc. The transaction was facilitated by NAI James E. Hanson, with Anthony Cassano and Dick Hecker representing the seller.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,200,000
• Address: 53 Franklin Turnpike
• Market: Waldwick
• Buyer: Jamie Dimon - Chase
• Seller: Villa Restaurant Properties Inc
• Brokers: Anthony Cassano & Dick Hecker - NAI James E. Hanson
• SF: 3,600
• PPSF: $611

Chase plans to convert the purchased property into a new branch to strengthen its presence in New Jersey by offering a wide array of personal and commercial banking services. The strategic location of the property at a bustling intersection with various convenient amenities nearby played a significant role in this transaction.