Commercial real estate brokerage firm Marcus & Millichap announced the successful $5,260,000 sale of 251 North Ave. W., a prominent mixed-use property located in downtown Westfield.
The transaction was handled by Alan Cafiero, David Cafiero and Damien Rance of Marcus & Millichap’s New Jersey office, who exclusively marketed the property on behalf of the seller and procured the private buyer.
Spanning three stories, the 17,831-square-foot building sits on a 0.18-acre lot with direct access to municipal commuter parking. Originally renovated in 2014, the structure features nine distinct suites with a diverse roster of service-oriented commercial tenants. Major occupants include:
- Columbia Bank
- Edward Jones
- State of New Jersey
- BAYADA Home Health Care
- Rooster Spin
The asset occupies a coveted location directly adjacent to the Westfield Train Station and the high-profile One Westfield Place redevelopment site. Fronting North Avenue West—the city’s primary east-west corridor—the property benefits heavily from heavy foot traffic, area retailers, local restaurants, and neighboring residential communities.
According to firm leadership, rare offerings in prime downtown corridors continue to draw significant investor enthusiasm due to robust demographics and transit access.
“Downtown Westfield continues to be one of the most desirable mixed-use investment markets in New Jersey,” Alan Cafiero, senior managing director of investments, said. “The combination of a premier downtown location, immediate proximity to the train station and a strong, diverse tenant roster generated significant investor interest in this asset.”
Cafiero further noted that limited investment inventory and exceptional walkability make properties of this caliber in Westfield a unique long-term value acquisition for private buyers.
