Release: Former Bank Branch in New Providence to be Auctioned Sept. 22

A former bank building in the central business district of New Providence in Union County will be sold in an absolute auction this month.

Located at 50 South Street, the 370 square-foot masonry building with three drive throughs is near Springfield Avenue (Rt. 512) as well as Route 78 and 24. The property is next to the Village Shopping Center, anchored by A&P Fresh and CVS Pharmacy.

The bank branch is one of seven properties throughout New Jersey being auctioned by Max Spann Real Estate & Auction Co, the prominent national real estate auction house. The multi-parcel auction is scheduled for Thursday, Sept. 22 at 1 p.m. at the Sheraton Raritan Center, 125 Raritan Center Drive in Edison.

The absolute auction offers a significant opportunity for an investor as the property will be sold regardless of price at this auction.

“As New Jersey’s economy continues to rebound, locations like this will be prime for redevelopment,” said Max Spann Jr., president and CEO of the firm. “We don’t know how low the final bid on this property will be but we do know that we need to sell it regardless of the price.”

Other properties in the multi-parcel auction include: a single family home three blocks from the beach in Spring Lake, a residential lot in Matawan, a former Charlie Browns restaurant in Franklin Township in Somerset County, a bank branch in Bloomingdale in Passaic County, a commercial lot in North Hannover in Burlington County and a retail/professional building in Medford, also in Burlington County.

“Any real estate investor will find something of value out of this selection of properties,” said Max Spann Jr., president and CEO of the firm. “Regardless of whether you prefer residential or commercial, developed or undeveloped, there are opportunities at this auction.”

To take the next step, call 888-299-1438 for the property information package, attend the auction and bid. For more information about Max Spann’s auctions, visit maxspann.com, or follow Max Spann on Facebook/MaxSpann and Twitter/MaxSpann.