Cushman & Wakefield arranged the sale and financing of a medical office building located at 400 Old Hook Rd. in Westwood, NJ, less than half a mile from Hackensack Meridian Health’s Pascack Valley Medical Center. The 33,277-square-foot, three-story medical office building sold for $4.35 million to an undisclosed buyer.
Cushman & Wakefield’s Private Capital Group, including Andrew Schwartz, Jordan Sobel, André Balthazard and Dan Bottiglieri, marketed the asset for sale on behalf of the owner, 400 Old Hook Owner LLC, and procured the buyer.
“Medical office continues to be one of the most sought-after asset classes in New Jersey, particularly in locations with strong health system adjacency and durable tenancy,” said Sobel. “400 Old Hook Rd. checks all those boxes.”
Financing was arranged by Brian Anderson and Eddie Miro from Cushman & Wakefield’s Equity, Debt & Structured Finance team. The property is located along one of Bergen County’s leading medical corridors and is currently 77% leased.
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