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Atkins Cos Acquires Medical Office Building In Fair Lawn New Jersey For $22 Million

Property Image
SOLD
$22,000,000
Douglas "Doug" Rodio
Brannan Knott
+ 3

New Jersey

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Medical Office151,339 SF
Sold 02/10/2025
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Property Image
SOLD

Atkins Cos Acquires Medical Office Building In Fair Lawn New Jersey For $22 Million

17 17 New Jersey Highway 208

See Similar Deals
Medical Office151,339 SF
Sold 02/10/2025
Douglas "Doug" Rodio
Brannan Knott
+ 3
Contact now

Summary

NEW JERSEY
Asset Type:Medical Office
Price Per Square Foot:$145
Total Square Footage:151,339 SF
Transaction Type:Sale

The medical office building located at 17-17 New Jersey Highway 208 in Fair Lawn, NJ, was sold for $22,000,000. The property spans 151,339 square feet, resulting in a sale price per square foot of $145.

Summary of transation details:

Atkins Cos. acquired the property from Keystone Development + Investment, facilitated by CBRE, which represented the seller and secured the buyer in this transaction.

Players

Christopher (Chris) Bodnar
24 deals$2.6B volume(720) 635-2653
BROKER

Travis Langer
CBRE
52 deals$2.4B volume
BROKER

Jeffrey Dunne
CBRE
86 deals$3.9B volume
BROKER

Brannan Knott
CBRE
16 deals$1.1B volume(443) 983-6039
BROKER

Douglas "Doug" Rodio
CBRE
8 deals$406.8M volume
BROKER

Daniel Blumenkrantz
CBRE
8 deals$285.5M volume
BROKER

Details

SOLD
IMAGE: Robert E. Atkins, Bill Glazer, Brannan Knott, Christopher Bodnar, Daniel Blumenkrantz, Douglas Rodio, Jeffrey Dunne & Travis Langer DATE: 02/10/2025 ADDRESS: 17-17 New Jersey Highway 208 MARKET: Fair Lawn, NJ ASSET TYPE: Medical Office BUYER: Robert E. Atkins - Atkins Cos SELLER: Bill Glazer - Keystone Development + Investment (@Keystone_US) BROKERS: Brannan Knott, Christopher Bodnar, Daniel Blumenkrantz (@DanielBlu), Douglas Rodio, Jeffrey Dunne & Travis Langer - CBRE (@CBRE) SALE PRICE: $22,000,000 SF: 151,339 ~ PPSF: $145 NOTE: Atkins Cos. acquired the 151,339-square-foot medical office building at 17-17 Route 208 in Fair Lawn for $22M. CBRE represented the seller, Keystone Development + Investment, and secured the buyer.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,173,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$78,161.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$104,291.22
Annual Debt Service$1,251,494.69