470 Chestnut Ridge Road in Woodcliff Lake — Courtesy: CBRE
By Joshua Burd
Keystone Property Group has sold a nearly 54,000-square-foot office building in Woodcliff Lake for $9.8 million, brokers with CBRE announced Tuesday.
The real estate services firm represented the seller in the deal at 470 Chestnut Ridge Road, touting its location at the intersection of Tice Road and adjacent to Whole Foods. The property is fully leased to Kiewit Infrastructure, one of North America’s largest engineering and construction organizations with $13.7 billion in revenue and more than 28,000 employees, which maintains its regional Northeast headquarters at the 53,730-square-foot building.
“470 Chestnut’s location in one of New Jersey’s premier towns coupled with Kiewit’s recent upgrades to the lobby, common areas and building systems made this an attractive opportunity for the buyer,” said CBRE Vice Chairman Jeff Dunne, who brokered the trade alongside Doug Rodio, Travis Langer and Dan Blumenkrantz.
The buyer was undisclosed.
