Exclusive Management Acquires Class A Office Building In Montvale For $14.75M

5 Paragon Drive, a 119,089-square-foot Class A office building located in Montvale, New Jersey, has been sold for $14.75 million. The property, situated on a 16.53-acre lot, was sold by Nessel Development to Exclusive Management. The office building is 76% leased and is located in a corporate-heavy area near transportation.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $14,750,000
• Address: 5 Paragon Drive, Montvale, New Jersey
• Market: Montvale
• Acres: 16.53
• Square Footage: 119,089
• Buyer: Exclusive Management - Baruch Hirsch
• Seller: Nessel Development - Ari Nessel
• Brokers: Jeremy Neuer, Jose Cruz & Kevin O'Hearn - JLL

JLL Capital Markets facilitated the sale of 5 Paragon Drive. The deal involved key individuals such as Baruch Hirsch from Exclusive Management as the buyer's representative, and Ari Nessel from Nessel Development as the seller. The transaction was handled by brokers Jeremy Neuer, Jose Cruz, and Kevin O'Hearn from JLL. The sale of this Class A office building adds to Exclusive Management's portfolio and expands their presence in the Montvale market.