A 9,914-square-foot medical office located at 81 Route 4 in Paramus has been sold for $5.05 million. This transaction sets a two-year submarket record for healthcare properties in the area with Paradigm Oral Health as the tenant under a long-term lease, and the sale reflects a price per square foot of $509.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $5,050,000
• Square Footage: 9,914
• Price per Square Foot: $509
• Address: 81 Route 4
• Market: Paramus
• Brokerage Firm: Matthews

The deal was facilitated by Seamus O'Brien, Michael Moreno, Rahul Chhajed, and Thor St. John from Matthews, who secured the buyer and managed the deal adjustments, which included $200,000 in additional closing costs. The transaction closed escrow in 60 days.