Bergenfield, N.J. (September 12, 2019) – NAI James E. Hanson announces it has negotiated the sale of a 5,245-square-foot office building at 253 South Washington Avenue in Bergenfield, N.J. NAI James E. Hanson’s Dominic Fittizzi represented the seller, S&S Realty Holding Co., LLC, in the transaction with Maywood Physical Therapy.
With locations in Maywood and Emerson, N.J., Maywood Physical Therapy and Rehab Center seeks to promote the wellbeing of every patient by providing comprehensive and quality physical therapy, chiropractic care, and rehabilitative medicine. With a highly experienced team of experienced physical therapists, Maywood Physical Therapy and Rehab Center can treat a wide range of musculoskeletal and neuromuscular disorders to improve patients’ orthopedic conditions and promote long-term health.
Situated at the corner of South Washington Avenue and Carnation Street, 253 South Washington provides an ideal space for Maywood Physical Therapy and Rehab Center’s third location. The building boasts the ideal combination of accessibility and visibility that today’s medical tenants prize, with 14 parking spots and over 19,000 vehicles passing the property each day. Additionally, the local demographics are highly favorable with over 400,000 people with an average household income of $145,147 living within five miles of the building. Maywood Physical Therapy & Rehab Center plans on utilizing a portion of the property while continuing to lease the remaining space to the four current tenants.
“We continue to work with an increasing number of businesses that recognize the benefits of property ownership as elevated pricing in the northern New Jersey market presents highly favorable investment opportunities,” said Fittizzi. “With the added expense of their buildouts, medical tenants like Maywood Physical Therapy & Rehab Center understand the tremendous value in owning the building they are also occupying. Our knowledge of the dynamics of this market and the factors that buyers prioritize in their property search, allowed us to effectively market this building on behalf of our client and secure a buyer.”