1030 Clifton Ave. in Clifton — Courtesy: NAI James E. Hanson
By Joshua Burd
A medical office user has acquired nearly 11,000 square feet of condominium space in a Clifton, following a deal arranged by brokers with NAI James E. Hanson.
The real estate services firm represented Realty Investment Associates in the sale at 1030 Clifton Ave. The 10,876-square-foot space is the second floor at the 21,734-square-foot property.
NAI Hanson’s Josh Levering and Nicholas DePaolera brokered the sale on behalf of the Hackensack-based firm. They said the buyer plans to renovate, upgrade and occupy the space as a medical office.
“In today’s market, many smaller business owners are recognizing the advantages of building ownership versus leasing,” Levering said. “Especially when making significant upgrades and renovations to a space for your own business, you can create a long-term appreciable asset.”
“We worked closely with the seller to promote and market this building as a value-add opportunity. The buyer was looking to make an investment for themselves and their business. As we have been involved in numerous similar situations for the past few years, this sale further showcases there is still a very strong market for well-located and well-priced office properties.”