173 and 175 Bridge Plaza North in Fort Lee — Courtesy: JLL
By Joshua Burd
The owner and occupier of a highly visible office property just west of the George Washington Bridge has put it up for sale, under a recent listing by JLL’s New Jersey capital markets team.
According to the marketing materials, the offering includes a three-story, 44,095-square-foot office building and a 141-space parking garage at 173 Bridge Plaza North in Fort Lee. The property can be delivered fully vacant or partially leased on a long-term basis by the existing owner and user, JLL said, making it well-suited for an investor or a new owner-occupier.
The listing also includes 175 Bridge Plaza North, an adjacent property with ground-floor retail space and a billboard. That provides existing cash flow with upside through lease-up of a second
story space, as well as a potential redevelopment opportunity.
The 49,091-square-foot portfolio sees average daily traffic of some 300,000 vehicles, according to the marketing materials. All of it in what JLL described as an “irreplaceable location at the gateway of the George Washington Bridge.”
The firm’s Jose Cruz, Jeremy Neuer and Michael Kavaler are leading the marketing team with financing and leasing support from the firm’s Ryan Carroll and Colleen Maguire, respectively.
