DHRC's Paramus sale nets $12M.David Hirschman Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Company, Inc. announced the sale of a 46,000 s/f medical office building in Paramus, N.J. for $12.25 million. Located at the corner of Forest and Spring Valley Roads, the building is equidistant e·qui·dis·tant adj. Equally distant. e  qui·dis tance n. from three of the area's top hospitals: Hackensack University Medical Center Hackensack University Medical Center (HUMC) is a 781-bed non-profit, research and teaching hospital located just seven miles west of New York City, in Hackensack, New Jersey, providing tertiary and healthcare needs for northern New Jersey and the New York metropolitan area. , Valley Hospital and Pascack Valley The Pascack Valley is the name for a region of New Jersey contained within Bergen County. It is named for the Pascack Brook, which defines the valley. The region consists of nine municipalities: Montvale, Park Ridge, Woodcliff Lake, Hillsdale, Westwood, River Vale, Washington . Situated at 275-277 Forest Ave., it was purchased by a Bergen county investment group, currently occupying part of the building. The seller was 275 Forest Associates, an investment group in West Orange, N.J. John Guinan, of DHRCI, served as the lead broker in the transaction. Richard Koch, of Northmarq Capital Incorporated, arranged the financing. DHRCI will handle the leasing for the property, as well as ongoing management of the building. Since selling the building, DHRCI has leased approximately 6,000 s/f of office space in three separate deals. |
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