619 East Fordham Road.

NEW YORK CITY – Fordham University has acquired a5,000-square-foot development site at 619 East Fordham Road fromSix 19 Custom, LLC. The institution scooped the property, whichsits facing the University on the corner of East Fordham Road andHughes Avenue, in a fierce bidding process.

Cushman & Wakefield brokered the transaction, which saw anincredible amount of interest, more so than almost anyproperty the Bronx team has listed this year.

In the Fordham submarket of the Bronx, the asset is steps awayfrom Fordham University, giving the institution many developmentoptions for an asset that would practically qualify as part of thecampus itself, Jonathan Squires, executive managing director atCushman tells GlobeSt.com.

Currently, occupying the space with 31,786-buildable-square-feetis an Enterprise Rent A Car garage, considered a national tenant.Both the property's buildable square feet that offer the potentialfor retail conversion and tenancy made it an undeniable buy forindividual investors, developers and institutions who were in thebidding pool.

"A sale of a property on East Fordham Road is rare, especiallyone so close to the university. It was unique also because it was acash flowing garage with a strong national tenant, and it had thepotential for either commercial or residential development,"Squires and Addison Berniker of Cushman told GlobeSt.com.

Situated one block away from Fordham University and east of thetransportation hub Fordham Plaza, the property includes a parkinglot with an additional 231 feet of wraparound frontage along EastFordham Road and Hughes Avenue.

Canvasing the neighborhood are 12 different bus lines and trainsincluding, the Metro-North Station and the Kingsbridge Road SubwayStation with access to the D train.