Cushman & Wakefield on Monday said it arranged the sale of a single-tenant office and flex property at 20 Craig Road in Montvale for $5.75 million. The 29,898-square-foot building, which is fully leased to JURA, Inc., was sold by Mountain Development Corp. to Fortune Touch, LLC.
A team from Cushman & Wakefield, including Andrew Schwartz, Jordan Sobel, Andre Balthazard, and Dan Bottiglieri, represented the seller and secured the buyer. The firm’s Equity, Debt & Structured Finance team, led by Brian Anderson and Eddie Miro, also arranged the acquisition financing for the transaction.
The property serves as the North American headquarters for JURA, a globally recognized Swiss brand of premium automatic coffee machines. The two-story building is a mission-critical asset for the company, featuring executive offices, a product showroom, a customer support center, warehouse facilities, and a “Jura Live” studio.
According to Sobel, the sale highlights the continued strong investor interest in well-located, single-tenant office assets with high-quality tenants. The property’s strategic location in Montvale, a desirable business community, and its proximity to major highways and Manhattan contributed to its appeal as an investment opportunity.
“This transaction demonstrates the continued investor appetite for well-located, single-tenant office assets with strong credit tenants,” Sobel said.
