Strengthening Bergen County’s reputation as a top-tier destination for health care investment, Cushman & Wakefield announced the sale and financing of a premier medical office building at 400 Old Hook Road. The 33,277-square-foot facility traded for $4.35 million to an undisclosed buyer, signaling continued investor appetite for stable, outpatient-focused assets.
The three-story building sits at a strategic “health system adjacency” sweet spot, located less than a half mile from Hackensack Meridian Health’s Pascack Valley Medical Center. This proximity to a major regional hospital has anchored the property’s value, keeping it 70% leased to a diverse roster of established medical providers.
The transaction underscores a broader 2026 trend: the migration of high-margin health care services from inpatient hospitals to accessible, community-based office settings.
“Medical office continues to be one of the most sought-after asset classes in New Jersey,” Jordan Sobel, director at Cushman & Wakefield said. “The level of investor demand… underscores the depth of capital targeting well-located medical office assets in Bergen County.”
Key investment drivers for 400 Old Hook Road:
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Proximity: <0.5 miles to Pascack Valley Medical Center.
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Value-add potential: Near-term upside through the lease-up of remaining 30% vacancy.
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Modern infrastructure: Significant prior capital improvements, including a 2017 renovation.
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Tenant synergy: Home to regional leaders like Valley Health System and Englewood Health.
Cushman & Wakefield’s Private Capital Group—comprising Andrew Schwartz, Jordan Sobel, André Balthazard and Dan Bottiglieri—represented the seller, 400 Old Hook Owner LLC, and procured the buyer.
Complementing the sale, the firm’s Equity, Debt & Structured Finance team, led by Brian Anderson and Eddie Miro, secured the acquisition financing. The robust response from lenders mirrored the competitive bidding process for the asset itself.
“The strong lender response… underscores the depth of capital targeting high-quality medical office properties,” Executive Managing Director Anderson added.
