1 Corporate Drive in Wayne — Courtesy: JLL
By Joshua Burd
A credit union has sold an 18,000-square-foot office building in Wayne, with plans to remain as a tenant alongside the medical practice that acquired it.
Brokers with JLL represented USAlliance Financial Federal Credit Union, or USALLIANCE Financial, in its sale of 1 Corporate Drive. The Retina Center of New Jersey purchased the building for an undisclosed price and will use the property for office space and outpatient care.
JLL Executive Managing Director Frank D. Recine and Senior Vice President Derek DeMartino completed the assignment. Philip J Kreizer & Associates represented Retina Center of New Jersey.
“This is an ideally located property with flexible zoning and high visibility,” Recine said. “The transaction enabled the property owner to monetize the asset while maintaining its presence in the building. At the same time, the new owner gains a facility that is uniquely suited to support its business.”
Built in 2005, the two-story building sits on 2.77 acres with 75 parking spaces. It’s located at the intersection of Riverside Drive, about a mile north of Route 46 and Interstate 80, with proximity to other major highways and buses and train service.
JLL noted that the complex originally served as the headquarters for USAlliance Financial Federal Credit Union, which will retain its branch retail footprint in the property. Its new owner, Retina Center of New Jersey, has five locations in northern New Jersey and specializes in diseases and surgery of the retina, vitreous and macula.
