NAI James E. Hanson, a Parsippany-based commercial real estate firm, announced Thursday it has negotiated the sale of a medical office building in Ridgewood.
Randy Horning and Darren Lizzack of NAI Hanson represented the buyer in the deal.
The two-story property, located at 265 Ackerman Ave., is comprised of 9,242 square feet and is within close access to Routes 17 and 208, and New Jersey Tarnsit’s Ridgewood Station and Glen Rock-Borough Hall Station.
The buyer, which will be occupying 3,000 square feet on the first floor to dedicate to a cardiology practice, said it plans to upgrade the property in the next year, including a renovated parking area, a new roof, facade, HVAC system and lobby.
“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.”