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Two-Building Office and Medical Park Goes for $22M in Wayne, NJ
Cushman & Wakefield arranged the sale of Oak Hill Park, a 122,600-square-foot office and medical park located at 1680-1700 Route 23 N. in Wayne, NJ. The final sale price was $22,250,000.
A Cushman & Wakefield team of Frank DiTommaso, David Bernhaut, Andy Merin, Gary Gabriel and Seth Zuidema represented the seller, Chopp Holdings. The leasing team of Jerry Shiffrin, Frank Maldonado and Dan Johnsen also participated in the transaction. Acquisition financing was arranged by Progress Capital’s Brad Domenico.
“Oak Hill Park is a perfect example that right-sized, well-located properties with a diverse tenant mix are still commanding solid investor interest despite current challenges in the capital markets,” said DiTommaso. “Oak Hill Park has benefitted from over 55,000 square feet of new and renewal leasing activity in the past 24 months, and ownership will continue to implement a hands-on leasing approach to enhance the existing and future medical-tenancy at the property.”
- ◦Sale/Acquisition
