Cushman & Wakefield Sells Medical Office Building in Teaneck
The Teaneck Professional Building, a medical office building at 175 Cedar Lane between Queen Anne and Grange Roads in Teaneck, New Jersey, was sold in an all-cash transaction valued at $2,850,000.
The three-story building contains approximately 14,651 square feet and sits on an 87’ x 150’ lot. It benefits from a long-standing history of high occupancy. The sale price equates to approximately $195 per square foot.
The property is ideally located within close proximity of Holy Name Medical Center. It just east of the main Cedar Lane business district and steps from a New Jersey Transit bus stop that provides connectivity to Manhattan. Additionally, it is just minutes to downtown Hackensack, Route 4, the New Jersey Turnpike/Route 80, and the George Washington Bridge.
“The property received a great amount of interest from investors due to it being a medical office building in close proximity to Holy Name Hospital,” said Cushman & Wakefield’s Seth Pollack, who exclusively represented the seller in this transaction. The buyer was represented by Moshe Rosenwasser.