By Joshua Burd
A church organization has acquired a former Bergen County YJCC building in Washington Township, in a $9 million sale announced by CBRE Group Inc.
In a news release, CBRE said its Tri-State Investment Properties team represented the seller of the 88,000-square-foot building at 605 Pascack Road. The team also represented the buyer, Bethany Church, following the recent closure of the community center after more than 30 years.
Charles Berger and Mark Silverman of CBRE’s Saddle Brook office, along with Elli Klapper of the firm’s Long Island City office, handled the assignment.
“Our CBRE Tri-State Investment Properties team was hired to sell this property for the Bergen County YJCC to not only maximize value, but to also ensure that the community would continue to benefit under the property’s new ownership,” Berger said. “Bethany Church, as the buyer, met all of YJCC’s requirements. They could close quickly and, as they are located just down the block, would be able to expand their operations to enhance the surrounding community.
“We’re proud to have helped the YJCC achieve its goals, and to have been able to assist in the continuation of its important community outreach work throughout Bergen County.”
Cushman & Wakefield also represented the YJCC and served as lead on the marketing and negotiations for the sale to Bethany.
The two-story building sits on nearly 10 acres and has about 300 parking spaces on site, the news release said. Historically operated as a nonprofit community center, the complex has amenities such as a 75-foot indoor swimming pool, a gymnasium with an elevated running track, multiple sports and gym facilities, squash courts and saunas, among other facilities.
Berger added that the CBRE team has “completed a number of successful transactions with nonprofit entities to maximize the monetization of their underperforming real estate assets, while also securing similar nonprofit buyers that will utilize all that the properties have to offer.”
