Colliers Brokers Major Office Deal in Hackensack
By
Continental Plaza, Hackensack, N.J.
New York—Colliers International has recently facilitated the sale of a landmark office asset in Hackensack, N.J. The 650,000-square-foot Continental Plaza, located at the intersection of Route 4 and Hackensack Avenue, sold for $63 million to a joint venture between Capstone Realty Group and JD Cos., in the largest year-to-date office deal. The joint venture purchased the building from a Miami-based special servicer.
“We received more than 15 qualified offers, reflecting the overall health of the market and the continued appeal of well-located suburban office product with strong repositioning potential,” Jacklene Chesler, senior managing director & head of Colliers’ New Jersey investment sales practice, said in a statement…
