More than 10,000 feet of professional space in Clifton has been sold to Realty Investment Associates.
The two-story building at 1030 Clifton Ave. totals 21,734 square feet in the heart of Clifton Avenue’s well-known professional corridor, said NAI James E. Hanson, the firm that handled the sale.
The buyer purchased the entire second floor on a condominium basis and has plans to renovate, upgrade and occupy the space as a medical office.
“In today’s market, many smaller business owners are recognizing the advantages of building ownership versus leasing. Especially when making significant upgrades and renovations to a space for your own business, you can create a long-term appreciable asset,” said NAI Hanson’s Josh Levering, who handled the sale.
“We worked closely with the seller to promote and market this building as a value-add opportunity. The buyer was looking to make an investment for themselves and their business. As we have been involved in numerous similar situations for the past few years, this sale further showcases there is still a very strong market for well-located and well-priced office properties.”