Cushman & Wakefield on Wednesday said the real estate services firm has arranged the sale of Park 17, a 105,000-square-foot office property located at 218 Route 17 in Rochelle Park. The final sale price was $17.8 million.
Cushman & Wakefield’s Andy Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso and Seth Zuidema represented the seller, GHP Office Realty LLC, in the transaction.
“Park 17 features on-site covered parking and excellent visibility along Route 17,” DiTommaso said. “The buyer will benefit from the property’s stable in-place cash flow and long-term government and medical centric tenant base.”
Park 17 is a five-story office building featuring 346 parking spaces. Notable tenants include Bergen County Board of Social Services, Genpsych P.C. and St. Joseph’s University Medical Center.
The property is located on Route 17, minutes from the convergence of Route 4 and the Garden State Parkway, allowing for convenient access to the surrounding neighborhoods and Manhattan.