A Bergenfield office building has been sold to a physical therapy practice, according to commercial real estate firm NAI James E. Hanson.
The 5,245-square-foot property at 253 S. Washington Ave. was sold by S&S Realty Holding Co. LLC to Maywood Physical Therapy and Rehab Center, the firm said in a news release. The Maywood-based physical therapy, chiropractic care and rehabilitative medicine firm also has a location in Emerson.
NAI Hanson’s Dominic Fittizzi represented the seller in the transaction. Financial terms were not disclosed.
“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,” Fittizzi said in a prepared statement. “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.”
The Bergenfield property sits at the corner of South Washington Avenue and Carnation Street and has 14 parking spaces. Maywood Physical Therapy will use part of the building, while leasing the remainder to four current tenants.
“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 said.