63,000 square foot medical office building sold in North Jersey

855 Valley Road in Clifton. – NAI JAMES E. HANSON

Where patients receive care is changing as health care systems expand their footprint and invest in locations, like outpatient or emergency care centers, outside of the traditional hospital setting. In North Jersey, a sell brokered by NAI James E. Hanson follows this trend.

Vice Presidents Darren Lizzack and Randy Horning arranged the off-market sale of a 63,000 square foot medical office building on 2.09 acres at 855 Valley Road in Clifton. Neither the financial terms of the transaction nor the buyer were disclosed, however, according to NAI Hansonthe site was purchased by a “large regional health system”.

The Lizzack-Horning team represented the anonymous buyer in the transaction with Bliss Valley Associates LLC, the seller.

According to NAI Hanson, the buyer plans to build a 20,000 square foot outpatient surgery center on the top floor of the four-story building. The rest of the space will be leased, with the Lizzack-Horning team being brought in to oversee the allocation of the property’s available 43,000 square feet.

Randy Horning, Vice President, NAI James E. Hanson.

Horn

Darren Lizzack, Vice President, NAI James E. Hanson.

Lizzack

“Northern New Jersey continues to see incredible competition for well-maintained, easy-to-access doctor’s office spaces,” Lizzack said in a statement. “In such a tight market, we knew that identifying an off-market offer would be the only way to help our client find a building that met their needs. We are proud that we were able to provide our client with a solution that will allow them to expand their reach and provide their valuable services to the local community.

According to NAI Hanson, over the past 18 months, the Lizzack-Horning team has closed over 60 transactions totaling over $78 million.


After from the Lizzack-Honning team

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