253 South Washington Ave. in Bergenfield — Courtesy: NAI James E. Hanson
By Joshua Burd
A physical therapy practice is expanding with its purchase of a 5,245-square-foot office building in Bergenfield, in a newly announced transaction by NAI James E. Hanson.
The real estate services firm said Thursday that it represented S&S Realty Holding Co. LLC in the sale of the property, 253 South Washington Ave. Maywood Physical Therapy & Rehab Center acquired the property for an undisclosed price.
“We continue to work with an increasing number of businesses that recognize the benefits of property ownership as elevated pricing in the northern New Jersey market presents highly favorable investment opportunities,” said Dominic Fittizzi of NAI Hanson, who brokered the transaction. “With the added expense of their buildouts, medical tenants like Maywood Physical Therapy & Rehab Center understand the tremendous value in owning the building they are also occupying.
“Our knowledge of the dynamics of this market and the factors that buyers prioritize in their property search, allowed us to effectively market this building on behalf of our client and secure a buyer.”
Fittizzi highlighted the building’s location at the corner of South Washington Avenue and Carnation Street. The property will be Maywood Physical Therapy’s third location, thanks in part to its accessibility and visibility and 14 parking spots.
Maywood Physical Therapy & Rehab Center plans to use a portion of the property while continuing to lease the remaining space to the four current tenants.
