146 Route 17 in Hackensack — Courtesy: JLL
(Editor’s note: This story was updated Tuesday, June 13, with additional information from Zimmel Associates, which represented the buyer.)
By Joshua Burd
Procida Funding & Advisors LLC has sold a 15,300-square-foot medical office building in Hackensack for $3.7 million, in a newly announced deal by JLL.
According to the brokerage team, an undisclosed buyer purchased the property at 146 Route 17. The firm noted that the four-story property, which was built in 2006, was constructed as a surgical center with a back office and patient rooms on the upper floors, but was delivered vacant.
JLL Senior Vice President Brendan McBride and Associate Vice President Nicolas DeCotiis represented the seller, adding that the property provides quick access to Interstate 80 and has 48 surface parking spaces. Zimmel Associates Vice President Jaime Zimmel represented the buyer, noting that the surgical center will occupy 11,500 square feet and lease out the remaining 3,800 square feet.
“As merger and acquisition activity continues to drive demand for modern medical office space in New Jersey, the buyer is positioned to capitalize on the property’s location within a major population center with a move-in ready facility offering easy access and tremendous visibility,” DeCotiis said.
The new owner has also retained Zimmel Associates as the leasing broker.
“We are excited to have represented the buyers in the acquisition of this highly sought-after medical office building,” Zimmel said. “The property’s desirable location, move-in ready capability with outstanding features, make it an exceptional investment opportunity. Our team worked diligently to ensure a smooth and successful transaction.”
