Cushman & Wakefield sold 420 Grand Ave., a 15,940-square-foot medical office building in Englewood, for $3.55 million, according to a Tuesday announcement from the firm.
Cushman & Wakefield’s Andy Merin, Andrew Schwartz, Jeffrey Prezant, Seth Pollack, Jordan Sobel and Andre Balthazard represented the buyer and procured the seller, East Park Real Estate, in the transaction.
“420 Grand Ave. offered an ideal opportunity for medical office investors,” Schwartz said. “With two major hospitals within three miles of the site, this asset supports high demand in a severely supply-constrained location.”
The two-story medical office building sits on a 1.16-acre property. The asset is currently occupied by two medical tenants and is located within an Opportunity Zone. The building offers 52 parking spaces.
Situated in the highly desirable Bergen County, the property is strategically located directly off of Route 4 in one of the most densely populated and affluent areas of the state. Two major hospitals, Holy Name Medical Center and Englewood Health are all within three miles of the property.
