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Follow on Google News | Colliers Brokers Sale of Continental Plaza in Hackensack, N.J$63 Million Sale Largest Office Trade Year to Date in Bergen County
By: Colliers International "Continental Plaza is one of the most prominent office developments in northern New Jersey, and its offering drew significant investor interest," noted Colliers' Jacklene Chesler, senior managing director and head of the firm's New Jersey investment sales practice. "We received more than 15 qualified offers, reflecting the overall health of the market and the continued appeal of well-located suburban office product with strong repositioning potential." Strategically situated within a densely populated and affluent New York City suburb, Continental Plaza currently is 72 percent leased to a strong and diverse tenant base. More than $16.5 million in capital improvements have been completed there over the past four years. Tenants also enjoy an established amenity package that accommodates today's lifestyle-driven workforce.Located at 401, 411 and 433 Hackensack Avenue, Continental Plaza sits directly across the street from the Riverside Square Mall. "Continental Plaza's unparalleled position in the market is a result of its access, superior visibility, and on-site and surrounding amenities," Chesler said. "This property's competitive position is well secured under its new ownership, which brings with it past involvement with this asset, deep experience in the Northern New Jersey market, and an impressive track record of property turnarounds." "Jackie and her team did an exceptional job developing, implementing and ultimately executing the marketing plan for this important assignment," -- End -- About Colliers International Group Colliers International (http://www.colliers.com/ Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals' Global Outsourcing for 11 consecutive years, more than any other real estate services firm. For the latest news from Colliers, visitColliers.com (http://www.colliers.com/) End
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