Hawthorne, N.J. (April 6, 2022) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated the sale of a 3,851-square-foot medical office building located at 364 Lafayette Avenue in Hawthorne, N.J. NAI James E. Hanson’s Team Lizzack-Horning led by Darren Lizzack, MSRE, and Randy Horning, MSRE, represented the seller, Orom Ashur LLC, in the transaction with AKKC Realty LCC.
Centrally situated in the heart of Hawthorne’s downtown, 364 Lafayette Avenue is a single-story freestanding building. Previously utilized as a commercial banking space, the well-maintained property features both prime corner lot visibility and on-site parking, as well as proximity to nearby retailers such as Walgreens, Chase Bank and Subway. The property is also conveniently located around the corner from the Hawthorne NJ Transit station and sits within easy driving distance of major transportation arteries such as Routes 17 and 208 and the Garden State Parkway.
The buyer, a family medicine practice, recognized that 364 Lafayette Avenue’s close proximity to its previous address in Haledon and ease of accessibility would make it an ideal relocation opportunity. Leveraging their extensive market knowledge, Team Lizzack-Horning was able to efficiently complete the transaction, enabling the buyer to quickly begin construction on its new space.
“The healthcare market has continued to see tremendous velocity in the post-pandemic world, especially given the slow and steady recovery of the retail sector. The immense potential and location of 364 Lafayette offered the perfect opportunity for a future as a medical office and aligns directly with the trend of former retail properties being converted into medical spaces,” said Horning. “We look forward to continuing leveraging our exceptional market expertise to not only help our clients find value for their properties but take advantage of the rising demand for healthcare spaces in the foreseeable future.”
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 140 deals over the past eight years.