218 Route 17 North, Rochelle Park, NJ 07662

December 2022: James J. Houlihan and Andrew Greenspan, of GHP Office Realty, LLC are pleased to announce the sale of a five-story office & medical building on Route 17 North in Bergen County for $17,800,000. The 105,000 square foot property, located in the Township of Rochelle Park, has been in the ownership’s portfolio for over 20 years. The partners purchased the property years ago for $8,000,000. The property was 95% occupied at the time of sale. The property, which is located on the Southeast corner of Route 17 North and West Passaic Street in the Paramus submarket is leased to a wide range of office & medical tenants. 218 Route 17 North is known for being the home of Bergen County Board of Social Services since 2014. Other notable tenants include St. Joseph’s University Medical Center and GenPsych PC. The building boasts both covered and surface parking for employees and visitors. The property was uniquely positioned due to its excellent visibility and strong, stable in-place cash flow. Cushman & Wakefield of New Jersey’s real estate team of Andy Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso, and Seth Zuidema secured the purchaser for this multi-tenanted property. The Seller was represented by Stewart Wolf of Goldberg Weprin Finkel Goldstein, LLP.