Saxum Real Estate acquires downtown Red Bank Asset
RED BANK , NJ — Saxum Real Estate has added to its growing portfolio in downtown Red Bank with the acquisition of 2-10 Broad St., which it is re-branding as “Front & Broad.” The acquisition adds to its growing portfolio in downtown Red Bank which also includes “The Vault” located at 55 Broad St. and 176 Riverside Ave., which sits at the gateway to downtown Red Bank. Located at 2-10 Broad St., Front & Broad is a three-story, 27,033 s/f office and retail property that sits on the premier corner in downtown Red Bank. The property is anchored by Urban Outfitters which occupies 10,400 s/f on the ground floor. The upper floors feature Deloitte and Elevation LLC as tenants. Saxum plans to implement a capital improvement program to renovate the remaining ~12,700 s/f of vacant office into premier boutique office suites that feature exposed brick, glass offices and common tenant space. The upper floor offers views of the majestic Navesink River while the rear terrace provides outdoor amenity space for tenants.