Clifton, N.J. (November 7, 2022) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated the sale of a 62,535-square-foot, Class-A medical office building at 1135 Broad Street in Clifton, N.J. NAI James E Hanson’s Team Lizzack-Horning comprised of Darren Lizzack, MRSE, and Randy Horning, MSRE, represented the buyer, Rendina Healthcare Real Estate, in the transaction with seller, First Equity Development Company.
Located near the intersections of Route 3 and the Garden State Parkway, 1135 Broad Street features recently renovated common areas, restrooms and lobbies and an onsite parking lot as well as a Grab N’ Go Smart Café to enhance the tenant experience. The property also has 600’ frontage on the Garden State Parkway and is less than ten minutes from the Clifton train station.
Looking to purchase a well-located, premier medical office building with an attractive cap rate, the buyer enlisted Team Lizzack-Horning to sift through the crowded market and provide the services needed to close a deal. The buyer intends to use the building to grow its investment portfolio.
“Today’s healthcare providers are expecting their spaces to meet the high standard of service they provide their patients, so the competition for Class-A space is very fierce,” “said Lizzack. “This puts owners of these properties in an advantageous position to capitalize on the quality of their space and maximize the value of their investment while making it a challenging market for buyers. Fortunately, our brokerage platform enables us to work on behalf of our clients, whether they are a buyer or a seller, to help them find success in any market.”
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 are augmented by a trusted network of real estate service providers that help clients of any size navigate an increasingly complex healthcare real estate transaction process. Together, the team has successfully closed 63 deals over the past 20 months totaling more than $96.7 million.
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