Saddle Brook, N.J. (April, 2016) – NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announced today the brokering of the sale of an 18,140-square-foot medical office building located at 190 Midland Avenue in Saddle Brook, N.J. NAI Hanson’s Darren M. Lizzack, Randy Horning, and Hal B. Messer represented both the seller, Brook Development, LLC, and a private buyer in the transaction.
The two-story medical office building houses 3 operating rooms, a Joint Commission on Accreditation of Healthcare Organizations (JCAHO) outpatient surgical center and is located within a close proximity to Bergen and Passaic County Hospitals. The property is fitted with fiber optic cables and integrated services digital network (ISDN) internet access, allowing tenants advanced technological freedom. The property also features ample covered parking and a New Jersey Transit bus stop in front of the building.
“We are seeing the commercial sales market continue to show signs of strength, mainly due to a low interest rate environment that is coupled with a limited supply of alternative investments in the market,” said Lizzack. “This transaction is a prime example of that trend and the continued strength and attractiveness of medical office space located in close proximity to area hospitals. We were able to quickly find a buyer who was interested in investing in a strong asset in a key market, enabling the seller to dispose of the asset as part of their long-term estate planning. Additionally the buyer we found is a CEO of a Hackensack-based surgery center, and intends to utilize the 5,400 square feet of space with another quasi-medical use.”
190 Midland Avenue offers excellent access to The Garden State Parkway as well as Route 80 and convenient access to Routes 46 and 21. The building, which was constructed in 2002, currently houses Renaissance Surgery Center, LLC, the Bergen Ambulatory Surgery Center and Midland Anesthesia and Pain Management.
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About NAI James E. Hanson
Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise.
NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with 400 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company’s Hackensack office at 201-488-5800 or visit www.naihanson.com.
