Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Cushman & Wakefield Sells Medical Office Building in Teaneck

06/24/2015

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.

06/24/2015 - 14:00

Source

Cushman & Wakefield Capital Markets Group New York

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