MONTVALE, NJ–JD Companies, the Bergen County real estate developer and operator, has acquired a 50,000-square-foot office building here for its new headquarters. The firm will relocate from Saddle River.
The deal was arranged by Cushman & Wakefield's Metropolitan Area Capital Markets Group for an undisclosed sales price. Brokers said it is emblematic of increasing investor interest in “non-core” office buildings in northern New Jersey.
The two-story building sits on a five-acre plot at the intersection of Chestnut Ridge Road and Grand Avenue here. It is currently 76% occupied by Community Blood Services and NJ Lenders Corporation under long-term leases.
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