July 19, 2017 Comments Off on Value-Added Investment in Hackensack Medical Office Views: 715 New York News, Tri-State Area New York

Value-Added Investment in Hackensack Medical Office

Simone Development Companies bought Prospect Plaza at 385 Prospect Ave. in Hackensack, NJ, a three-story, 62,000-square-foot medical office building in close proximity to the world renowned Hackensack University Medical Center. It’s Simone’s first property in Northern New Jersey.

The building is only 52% occupied, but Simone doesn’t expect the building to stay half-empty for long. It is planning an extensive renovation.

“The property at Prospect Plaza presented a unique opportunity to acquire a medical office building in a competition constrained market where existing medical office properties are more than 96% occupied,” said James MacDonald, vice president of leasing for Simone Metro Properties.

Read More at Simone

Connect with Simone’s MacDonald

For comments, questions or concerns, please contact Bendix Anderson

Subscribe to Connect Daily New York

Tags: , ,

Comments are closed.