265 Ackerman Ave. in Ridgewood — Courtesy: NAI James E. Hanson
By Joshua Burd
A cardiology practice is now an owner and occupier of a 9,242-square-foot medical office building in Ridgewood, following a sale arranged by NAI James E. Hanson.
Brokers with firm represented the buyer of the multitenant building, 265 Ackerman Ave. The unnamed purchaser will occupy a 3,000-square-foot suite on the first floor of the two-story building, which is east of Route 208, after having searched for a larger, more modern space that provided room for its practice to grow.
NAI Hanson’s Randy Horning and Darren Lizzack completed the assignment for the Teterboro-based firm, touting its location between Ridgewood, Glen Rock and Fair Lawn. The building is accessible from routes 17 and 208, they said, while also citing its proximity to NJ Transit’s Ridgewood and Glen Rock-Borough Hall stations.
The buyer is currently based in Fair Lawn, NAI Hanson said, noting that the new location will allow it to retain its existing patient base while attracting new patients. The new owner is also planning several updates in the coming year, including a renovated parking area, a new roof, new façade, HVAC system and lobby area.
“Heightened demand and a lack of development continue to be barriers to finding well-located quality medical office space in northern New Jersey,” Horning said. “However, as it was critical for the buyer’s to remain in the area, we recognized 265 Ackerman Avenue was ideal for their relocation due to its proximity to their former practice and patient base.
“Leveraging our experience working in the Bergen County medical office market, we were able to negotiate a deal that helped the practice secure a new long-term home that is large enough to support future growth.”
