Mahwah, N.J. (October 5, 2021) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated the sale of a 1,212-square-foot medical office condo at 400 Franklin Turnpike, Mahwah, N.J. NAI James E. Hanson’s Team Lizzack-Horning led by Darren Lizzack, MSRE, and Randy Horning, MSRE, represented the seller, Pondview Medical Center of Ridgewood in the transaction with Dr. Laura Randolph.
Featuring 36,000 square feet of dedicated medical office space, 400 Franklin Turnpike boasts an excellent location with easy access to Route 17 and Interstate 287. Accompanying its desirable location, the building’s attentive property management and maintenance teams enable physicians to own their spaces without handling time-consuming and labor-intensive property management duties. Forced to relocate because of the sale of her previous building, Dr. Randolph recognized 400 Franklin Turnpike’s strategic location near her current office paired with a wide range of complimentary healthcare tenants would create the ideal conditions for future growth.
“Despite the emergence of telehealth during the pandemic, this deal reflects physicians’ unquestionable need for physical offices moving forward,” explained Lizzack. “Locations like 400 Franklin Turnpike that both ensure improved community access and allow physicians to make an investment into an asset class poised for continued growth and stability will continue to stand out in the months to come.”
Founded in 2014, Team Lizzack-Horning is an expert brokerage team that specializes in healthcare, office, and investment property transactions. Leveraging a holistic and analytical approach to working with clients, Team Lizzack-Horning’s expertise and experience is augmented by a trusted network of real estate service providers, like GWG, that help clients of any size navigate an increasingly complex healthcare real estate transaction process. Together, the team has successfully closed more than 100 deals over the past five years. The team’s expertise in healthcare transactions has also earned it a spot on GlobeSt. Real Estate Forum’s Influencers in Healthcare list for the last two consecutive years.
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About NAI James E. Hanson
Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise. NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 375 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company’s Teterboro office at 201-488-5800 or visit www.naihanson.com.