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5 Paragon Drive
SOLD

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

5 Paragon Drive

Office
119,089 SF
clock iconSold 297 days ago
Kevin O’Hearn
Jose Cruz
Jeremy Neuer
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Summary

Sale
NEW JERSEY
Office
119,089 sqft

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.

Players

  • All

    4

  • Agents

    3

  • Agencies

    1

Kevin O’Hearn's profile picture
Kevin O’Hearn
JLL-image
Senior Managing Director
$1.1B Sold

Details

Deal Summary
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SOLD
IMAGE: Ari Nessel, Jeremy Neuer, Jose Cruz & Kevin O’Hearn DATE: 09/20/2023 ADDRESS: 5 Paragon Drive MARKET: Montvale ASSET TYPE: Office ~ ACRES: 16.53 BUYER: Exclusive Management - Baruch Hirsch SELLER: Nessel Development - Ari Nessel BROKERS: Jeremy Neuer (@jneuer19), Jose Cruz & Kevin O’Hearn - JLL (@jll) SALE PRICE: $14,750,000 SF: 119,089 ~ PPSF: $124 NOTE: JLL Capital Markets completed the $14.75 million sale of 5 Paragon Drive, a 119,089-square-foot Class A office building in Montvale, New Jersey. The property, 76% leased and situated in a corporate-heavy area near transportation, was sold by Nessel Development to Exclusive Management.

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