Fair Lawn, N.J. (August 17, 2022) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces the sale of a 25,944-square-foot medical office building at 23-00 Route 208 in Fair Lawn, N.J. NAI James E. Hanson’s Team Lizzack-Horning comprised of Darren Lizzack, MSRE, and Randy Horning, MSRE, represented both the buyer, TYH Acquisitions, LLC, and the seller, 2300 RT 208, LLC, in the transaction.
Situated on the western edge of Fair Lawn, 23-00 Route 208 is a two-story, 25,944-square-foot medical office building with a marbled floor vestibule, two elevators and ample covered parking. Since 2016, Team Lizzack-Horning has been the exclusive leasing team for 23-00 Route 208. Leveraging their deep experience in marketing and leasing of healthcare real estate, Team Lizzack-Horning helped the seller lease over 10,000 square feet at the building to a variety of tenants over the last six years.
Recognizing the favorable market conditions, the seller sought to leverage Team Lizzack-Horning’s experience with the property to pursue a sale. The team was able to quickly find a buyer who was interested in the building’s location, ideal tenant blend and long-term investment potential. Working for both the buyer and seller, the team was able to efficiently complete the sale.
“Medical office buildings that have long-term, in-place leases have proven to be a growing commodity in the northern New Jersey marketplace,” said Lizzack. “As these properties continue to trend in a positive and steady direction, we’re proud to offer our services to help drive meaningful value and meet the needs of clients on any side of a transaction.”
Founded in 2014, Team Lizzack-Horning is an expert brokerage team that specializes in healthcare, office, and investment property transactions. Leveraging a holistic and analytical approach to working with clients, Team Lizzack-Horning’s expertise and experience are augmented by a trusted network of real estate service providers that help clients of any size navigate an increasingly complex healthcare real estate transaction process. Together, the team has successfully closed more than 60 deals over the past eighteen months.