Real Estate

Historic downtown New Brunswick bank listed with nightlife
permit in place

Weiss Properties introduces The Trust on George Street 

Jessica Perry //June 30, 2023

Situated along the main drag in downtown New Brunswick, a white stone façade stands out. No longer a bank, “The Trust” recently hit the market for lease – with a 10,000-pound vault included – offering a unique opportunity for a meal, special occasions or after-hours endeavors.

Built in the 1920s, Weiss Properties announced the listing for 352 George St. this month, which comes with a permit allowing for high-end nightlife, dining and events.

With 5,620 square feet on the first floor, the listing also includes a 5,500-square-foot basement that would be suitable for a commercial kitchen.

Echoing the classic exterior of the building, the interior includes a 30-foot, hand-painted mosaic ceiling and marble floors. Additionally, Weiss Properties – which itself is based in New Brunswick – has facilitated the space’s transformation to hosting guests, rather than deposits.

According to the listing, the offer includes full architectural plans for a three-story high-end dining, nightlife and event space along with a branding package for “The Trust,” including logo, icon, color templates and mood boards.

“I was immediately captivated by the timeless elegance and architectural splendor of The Trust when purchasing the property,” Weiss Properties founder and President Robert Weiss said in a prepared statement. “When I look around at the many thriving hospitality establishments on George Street, I can easily envision The Trust becoming a marque destination and a flagship venue for a premier hospitality operator.”

The concept is a catching one. Elsewhere in the state – and more broadly – former banks are finding new lives, bringing character and history to the table, particularly as local branch counts dwindle.

From June 30 of last year through today, 2,621 branch offices have closed across the U.S., according to the Federal Deposit Insurance Corp., 121 of them in New Jersey. For 2021-2022, the nationwide total was 3,762 and 140 in N.J.

According to Weiss Properties, the potential conversion of spaces like The Trust on George Street – offering “majestic ambiance,” vintage features and a convenient downtown location – presents an unmatched opportunity for hospitality operators. And, New Brunswick itself is building other complementary opportunities, nearby. The Trust is within walking distance of the developing $800 million HELIX project, Rutgers University, the State Theater and the city’s train station, which is undergoing a $49 million renovation.

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