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  • Writer's pictureMAREJ

NAI James E. Hanson negotiates sale of partnership interest of Englewood, NJ MOB

Team Lizzack-Horning represents the seller, Lambs Lane Holding, LLC


Northern, NJ — NAI James E. Hanson has arranged the sale of the following transactions:

BERGEN COUNTY — NAI James E. Hanson has arranged the sale of a partnership interest of 180 North Dean St., an 18,488 s/f medical office building located in Englewood. NAI James E. Hanson’s Team Lizzack-Horning, comprised of Darren Lizzack, MSRE and Randy Horning, MSRE represented the seller, Lambs Lane Holding, LLC in the transaction with the buyer, Hahn Properties, LLC.

180 North Dean St. is a three-story, 18,488 s/f medical office building ideally located just one block from Englewood Hospital. The property boasts convenient access to Rte. 4 and I-80 and 95 and is situated within walking distance of a wide variety of shopping, dining, banking and other retail outlets.

The building is owned by six partners who each manage their respective healthcare practices. The owner of Lambs Lane Holding, LLC, now retired, operated a plastic surgery practice at the property for over three decades. Hahn Properties, LLC will be utilizing a 2,971 s/f space to operate a physical therapy business.

“Well-located medical office space continues to be in high demand from operators across the healthcare industry,” said Lizzack. “We are pleased to have helped facilitate the sale of our client’s ownership stake and help bring a complementary healthcare practice to the building.”

NAI James E. Hanson has negotiated a 1,750 s/f office lease at 18 West Passaic St. in Rochelle Park. NAI James E. Hanson’s Jonathan Kristofich and Josh Levering, SIOR represented both the landlord, Passaic Street Associates, LLC, and the tenant, Vyom Donut Management, LLC, in the transaction.

Located near the interchange of Rtes. 4 and 17 and the Garden State Parkway, 18 West Passaic St. is an 8,200 s/f multi-tenant flex building featuring executive-covered parking, an elevator, 24/7/365 tenant access and professional on-site management. In addition, the property boasts close proximity to Westfield Garden State Plaza as well as other major retailers including BJ’s Wholesale Club and IKEA.

Tapped as the brokerage firm for the property, NAI James E. Hanson leveraged its local market expertise to connect the landlord with prospective tenants and ultimately brokered this deal. The tenant will relocate from Paramus and join current tenant State Farm Insurance Agency at the property.

“18 West Passaic St. is a high-quality, well-located building that makes it an ideal location for a wide range of businesses,” said Kristofich. “Knowing the local market well, having the right skills, and good connections are key to making deals like this happen. As the exclusive leasing agent for the property, we take pride in finding the perfect mix of tenants based on the landlord’s needs and goals.”

Morris County — NAI James E. Hanson negotiated the sale of an 8,000 s/f office building located at 22 Rte. 10 in Succasunna. NAI James E. Hanson’s Joseph Vindigni represented the buyer, Heritage Succasunna, LLC in the transaction with the seller, Portwood, LLC.

Purchased by Heritage Succasunna, LLC as an investment property, 22 Rte. 10 is a two-story office building situated on .70 acres along Rte. 10. The building is fully leased to a diverse mix of tenants. The property also boasts proximity to several retail outlets.

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