NAI James E. Hanson helped facilitate the sale of a 63,000-square-foot medical office building in Clifton.
Hanson’s Team Lizzack-Horning, comprised of Darren Lizzack and Randy Horning, represented the undisclosed buyer in the transaction with seller, Bliss Valley Associates LLC.
Located at 855 Valley Road and situated on 2.09 acres, the property is a four-story building featuring 24-hour controlled access. The buyer intends to construct a 20,000-square-foot outpatient surgery center on the top floor and will lease the balance of the building.
Team Lizzack-Horning has also been tapped to oversee leasing for the 43,000 square feet of available space.
With a shortage of high-quality inventory available in the northern New Jersey medical office space market, Team Lizzack-Horning used its extensive list of local contracts to survey for off-market properties that would accommodate the buyer’s needs.
“Northern New Jersey continues to see an unbelievable amount of competition for well-maintained and easy-to-access medical office spaces,” Lizzack stated. “In such a tight market, we knew that identifying an off-market deal would be the only way we could help our client find a building that met its needs. We’re proud to have been able to provide a solution for our client that will allow them to extend their reach and provide its valuable services to the local community.”