For Sale: Paramus Medical Center | Bid Date Reminder – March 9, 2017

Holliday Fenoglio Fowler, L.P. (“HFF”) has been retained on an exclusive basis to arrange the sale of Paramus Medical Center (the “Property”), a 33,755-square-foot, 100% leased medical office building located in Paramus, Bergen County, New Jersey. Widely regarded as one of northern New Jersey’s premier medical office markets, Paramus benefits from convenient accessibility to some of New Jersey’s top hospitals. Paramus Medical Center is centrally located and easily accessible, situated only twelve miles from Manhattan, and located within minutes of northern New Jersey’s most heavily traveled thoroughfares, including the Garden State Parkway (0.1 miles east), Route 17 (0.1 miles east), Route 4 (0.3 miles south), Interstate 80 (three miles south), and Route 46 (four miles south).

Prominently located in the primary business and healthcare-focused district of Bergen County, the Property is situated within a fifteen minute drive of four of the top ten Hospitals in New Jersey according to the 2016 U.S. News & World Report. Most notably, Hackensack University Medical Center which is located only three miles south of the Property was ranked the number one regional hospital in New Jersey as well as the number four hospital in the New York Metropolitan area. Additional demand for off-campus outpatient services is driven by nearby hospitals such as Holy Name Medical Center in Teaneck (five miles southeast), Valley Hospital in Ridgewood (five miles northwest), and Englewood Hospital in Englewood (eight miles east).

In addition, the Property contains an Ambulatory Surgery Center (ASC) license on Suite 315 (Paramus Surgical Center) which provides a rare and valuable added benefit to the Property due to the current moratorium on the issuance of new off-campus surgery center licenses in the state of New Jersey. The ASC license also ties the licensee to this specific real estate. As a result, ownership recently executed a ten year lease renewal with Paramus Surgical Center.

Bid Date Reminder – March 9, 2017
Please submit your bid to a member of the marketing team before close of business on Thursday, March 9th.
Please detail the following in your bid letter:
1. Purchase Price
2. Deposit Amount
3. Timing of Due Diligence
4. Timing of Closing
5. Approval Process
6. Source of Funding/Debt Terms if Applicable

If you have already executed a confidentiality agreement, please follow the instructions below to access the offering memorandum and due diligence documents:

Log-In and Password – myHFF SYSTEM
1. Go to https://www.hfflp.com/Portal/SignOn.aspx
2. Enter your email address and password. If you do not have an account, click on “don’t have a login?” to create one. If you forgot your password, click on the reset button and a temporary password will be sent to you.

If you have not executed a confidentiality agreement and would like access to the Online Document Center, please click on the links below:

Click to Execute Online Confidentiality Agreement

Click to Download PDF Confidentiality Agreement

Contact Information

Marketing

Jose Cruz
Senior Managing Director
T: 973-549-2011
jcruz@hfflp.com

Kevin O’Hearn
Managing Director
T: 973-549-2018
kohearn@hfflp.com

Stephen Simonelli
Director
T: 973-549-2035
ssimonelli@hfflp.com

Ben Appel
Director
T: 484-532-4214
bappel@hfflp.com

Jordan Avanzato
Associate
T: 973-549-2012
javanzato@hfflp.com

Robert Borny
Associate Director
T: 973-549-2014
rborny@hfflp.com

Financing

Thomas Didio
Senior Managing Director
T: 973-549-2008
tdidio@hfflp.com

The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE

Existing Users Log In