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M id A tlantic Real Estate Journal — Northern New Jersey — June 2023 — 5B
www.marej.com
ACKENSACK, NJ — JLL announced the sale of a 15,000 JLL facilitates trade of prime Bergen County property to Procida Funding & Advisors, LLC Jaime Zimmel of Zimmel Associates reps purchaser in sale of medical office building in Hackensack H
a surgical center as well as back office and patient rooms on the upper floors. The build- ing, which offers 48 surface parking spaces, was delivered vacant. The JLL brokerage team representing the seller in- cluded senior vice president Brendan McBride and as- sociate vice president Nicolas DeCotiis . “As merger and acquisition activity continues to drive demand for modern medical office space in New Jersey, the buyer is positioned to capital- ize on the property’s location within a major population center with a move-in ready facility offering easy access and tremendous visibility,” said DeCotiis.
According to a recent re- port from JLL, medical office buildings have seen relentless demand and remain one of the most resilient commercial real estate property types. Inves- tors have come to view the sector as a critical alternative asset class. In other news, Zimmel As- sociates was named brokers for 54,600 s/f new construction industrial property in Hills- borough, NJ. The owner of 315 Roycefield Rd., Hillsborough – Adoni Property Group of Westfield, awarded Zimmel Associates as the broker and leasing agent because of their expertise for successfully handling flex spaces in the area, along with their stellar reputation. MAREJ
s/f class A, medical of- fice building at 146 Rte. 17 in Hack- ensack. JLL rep- resented the seller, Proci- da Funding
Jaime Zimmel
& Advisors, LLC . Jaime Zimmel, of Zimmel Associ- ates , represented the undis- closed purchaser. The sale price was $3.7 million. Situated on Rte. 17 near Interstate 80, the four-story property was built in 2006 and has historically operated as a medical office, built out with
146 Rte. 17 in Hackensack
NAI James E. Hanson's Team Lizzack-Horning negotiates lease renewal to keep Gold’s Gym in Teterboro, New Jersey
industrial building featuring 3,230 s/f of office space, two 8’x10’ tailgates, one 10’x10’ drive-in, and easy access to Interstates 202 and 287 as well as the New York Thru- way. The building also offers 43 parking spaces on a recent- ly repaved parking lot and is zoned for outdoor storage. Marcus Adler is a third- generation family-owned busi- ness specializing in clothing accessories including gloves, hats, scarves, and more. The company was interested in re- locating its business from NYC to enable it to transition from utilizing a third-party logistics operator to handling distribu- tion and fulfillment internally. “This relocation is part of a growing trend we’ve seen of businesses moving from New York to New Jersey,” said Somple. “91 Grant Street’s easy access to many of the region’s major roadways made it a ter- rific fit for Marcus Adler as they set out to redefine their logis- tics operations. We’re happy to have helped a family business secure the space they need to begin the next chapter of their journey and we wish them continued success.” MAREJ
BERGEN COUNTY, NJ — NAI James E. Hanson has negotiated a 42,985 s/f lease renewal at 100 Hollister Rd. in Teterboro. NAI James E. Hanson’s Team Lizzack- Horning comprised of Dar- ren Lizzack, MSRE, and Randy Horning, MSRE , represented the tenant, Ber- gen Fitness, Inc., along with Matthew Meade of MWM Group , in the transaction with Dawson Logistics As- sets, LLC, ℅ Maple Tree US Management, LLC, who was represented by Marc Petrella of KBC Advisors . Hollister Corporate Center located at 100 Hollister Rd. is a 177,092 s/f, multi-tenant flex property in Teterboro. Featur- ing proximity to Rtes. 17 and 46 as well as I-80, the property is suited to fit the needs of a variety of commercial and industrial tenants. Interested in extending their stay at the property to continue operating a Gold’s Gym, the tenant tapped NAI James E. Hanson to negotiate a lease re- newal at the property on their behalf. Utilizing their deep understanding of the Bergen County market, Team-Lizzack
100 Hollister Rd.
Horning provided the real estate services needed to help their client negotiate a renewal in one of the most competitive industrial markets in the area. “When a renewal is signed, it often represents the continu- ation of a successful relation- ship between the landlord and tenant,” said Lizzack. “In this case, our client has found suc- cess operating a fitness center and hoped to continue to oper- ate at this location for years to come. We’re happy to help our client extend their stay at the property and wish them
continued success.” Founded in 2014, Team Lizzack-Horning is an expert brokerage team that special- izes in healthcare, office, and investment property transac- tions. Leveraging a holistic and analytical approach to working with clients, Team Lizzack-Horning’s expertise and experience are augmented by a trusted network of real estate service providers that help clients of any size navi- gate an increasingly complex healthcare real estate trans- action process. Together, the
team has successfully closed more than 80 deals over the past 24 months totaling more than $100 million. In a second transaction, NAI James E. Hanson has negoti- ated the lease of a 24,550 s/f industrial building at 91 Grant St. in Ramsey. NAI James E. Hanson’s Andrew Somple, SIOR, and Jessica Curry represented the tenant, Marcus Adler, in the transaction with the landlord, RW Ramsey Realty Corporation . Located off Rte. 17 North, 91 Grant St. is a 24,550 s/f
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