A medical office condo in Mahwah has been sold, according to real estate firm NAI James E. Hanson.
The 1,212-square-foot condo is part of the 36,000-square-foot medical office building at 400 Franklin Turnpike, the real estate firm said in a news release.
Darren Lizzack and Randy Horning of NAI Hanson represented the seller, Pondview Medical Center of Ridgewood, in the transaction with the buyer, Dr. Laura Randolph. Randolph relocated her practice following the sale of her previous building.
“Despite the emergence of telehealth during the pandemic, this deal reflects physicians’ unquestionable need for physical offices moving forward,” Lizzack said in a prepared statement. “Locations like 400 Franklin Turnpike that both ensure improved community access and allow physicians to make an investment into an asset class poised for continued growth and stability will continue to stand out in the months to come.”
Financial terms of the transaction were not disclosed.