Cushman & Wakefield announced Oct. 20 that the real estate services firm has been retained to market the sale of 2 Christie Heights St., a 67,000-square-foot facility in Leonia that is fully leased to a new adult daycare facility. The property is being listed for $15 million.
A Cushman & Wakefield team led by Andrew Schwartz, David Bernhaut, Jordan Sobel, Andre Balthazard and Dan Bottiglieri is representing the seller in the transaction.
The daycare facility, known as Lily Life, is set to become fully operational by the first quarter of 2026 and is already fully subscribed with a significant waiting list, an indication of strong demand for adult daycare services in the region. Lily Life has made a substantial investment in capital improvements at the property, including about $2.5 million into interior finishes, to create an environment catering to the predominantly Korean community in the surrounding area.
“This is a rare opportunity to acquire a newly renovated, financeable asset with secure, long-term income in a premier infill location,” said Schwartz. “The adult daycare facility’s immediate full capacity demonstrates the tenant’s deep community roots and the critical need for this type of service in Bergen County. Its strategic location also makes it an exceptionally attractive investment.”
The property is 2.5 miles from the George Washington Bridge and is close to New York City and key Bergen County population centers, including Fort Lee and Palisades Park. Bergen County has seven of the 10 municipalities with the highest density of Koreans per square mile. These towns are Palisades Park, Fort Lee, Edgewater, Cliffside Park, Leonia, Ridgefield and Cresskill.
Palisades Park is the most populous with about 11,000 residents of Korean descent or nearly 9,000 per square mile. The Korean population in Palisades Park makes up 53.7% of the town. The Bergen County municipality is both the highest Korean American density and percentage of any municipality in the United States.
The area has significant barriers to entry for comparable large-scale adult daycare operations, further enhancing the property’s value and long-term stability.
