210-220 Knickerbocker Road in Cresskill — Courtesy: Deugen Realty Group
By Joshua Burd
An investor has purchased a 12,000-square-foot office building in the Bergen County borough of Cresskill, under a newly announced deal by Deugen Realty Group.
Kristian Cichon, Deugen’s director of acquisitions, represented both parties in the transaction at 210-220 Knickerbocker Road. He noted that the sale came as part of a Section 1031 like-kind exchange, adding that the building had four all-cash offers on the table.
“The property maintained strong occupancy throughout COVID, with multiple long-term tenants, and was attractive for its visibility and access from Knickerbocker Road,” Cichon said.