The Office Plaza on First 100-102 1st St

NAI James E. Hanson is pleased to exclusively present a prime redevelopment site totaling 1.41 acres located in the Prospect Area
in Need of Redevelopment Zone (the “Redevelopment Zone”), which is eligible for a long term tax abatement.
Comprising the Office Plaza on First, 100 First Street, 102-108 First Street, 114-124 First Street and 203 Beech Street in Hackensack,
NJ 07601, this collection (the "Property") spans First and Beech Streets, and is located directly across from the John Theurer Cancer
Center, (JTCC) the #1 ranked cancer center in NJ. This unique property presents a developer with a rare opportunity to construct up
to a +553,500 buildable square foot (BSF) as a mixed-use project adjacent to/in the Hackensack University Medical Center campus.
The well-positioned Property is an ideal site for a mixed-use project. It is not only a valuable site for medical/office space, but also for
an extended stay hotel, workforce housing, assisted living, multifamily residential, education and/or non-profit facilities, retail space
and necessary structured parking.
Currently improved with three buildings totaling 36,915 square feet (SF) the Property is 100% occupied by strong credit tenants, on
short leases and/or with early termination clauses that provide the prospective developer with the added benefit of income in place
during the planning and approval process. There is currently an approximate net operating income of $700,000 annually (NOI to be
finalized).
Due to its prime location, size and designation spanning two subzones of the Redevelopment Zone, as well as its eligibility for a long
term tax abatement, the Property is being offered for sale on an AS-IS basis. Contact listing agent for more information.