Colliers successfully brokered the $6.2 million sale of a highly sought-after commercial property at 303 Broad Street in Red Bank, Monmouth County.
The property, an approximately 27,700-square-foot, two-story building on a rare 4.17-acre lot, was sold to an undisclosed buyer ahead of auction, reflecting intense interest from investors and developers.
The Colliers team representing the seller, Cedar Holdings, included Vice Chair Jacklene Chesler, Vice President Patrick Norris, and Transaction Coordinator Brittany Leventoff.
Primed for repositioning or redevelopment
Formerly operating as a Wells Fargo corporate office and retail branch with a drive-thru, the property was delivered vacant at the time of sale. Its size and location at the intersection of East Bergen Place and Broad Street make it an ideal target for repositioning or complete redevelopment.
“This was a strategic acquisition that highlights Red Bank’s appeal as a destination for both long-term investors and developers,” Chesler said. “Opportunities like 303 Broad Street with its size, location, and potential, are exceedingly unique in this submarket.”
The sale comes as recent Colliers research indicates sustained growth in the New Jersey office market, with leasing activity reaching 2.1 million square feet, a 6.3% year-over-year increase.
303 Broad Street benefits from a highly strategic location that combines lifestyle appeal with robust connectivity. It sits less than a mile from Red Bank’s bustling downtown, which is a well-known destination for fine dining, boutique shopping, arts, and nightlife.
The location offers convenience and access to:
- The Navesink River and Riverview Medical Center.
- NJ Transit rail and bus service.
- The Garden State Parkway.
- The Jersey Shore and Midtown Manhattan.
This transaction continues Colliers’ momentum in the Red Bank submarket, following recent sales at 16 Monmouth Street and 14–16 Broad Street.
