CB RICHARD ELLIS COMPLETES SALE OF MIXED-USE PROPERTY

PATERSON, N.J. — CB Richard Ellis' Private Client Group has brokered the $1.75 million sale of a 25,000-square-foot mixed-use facility in Paterson. The facility, which is located at 33-43 Park Ave., contains four retail units and seven residential apartments, as well as a basement and a rear parking lot. The building, which is now 100 percent occupied, is scheduled to undergo renovations to the façade, parking lot and the formerly vacant supermarket, which is the largest of the four retail units. Dean Marchi and Charles Berger of CB Richard Ellis represented the seller, a trustee acting on behalf of the lender, in the transaction. Stephen D'Amato, also of CB Richard Ellis, represented the buyer in the leasing component of this transaction.