Hackensack Office Building Near Court House Sold

HACKENSACK, NJ - A two-floor office building near the Bergen County courthouse has been sold and will be leased back to its previous owner and occupied by the new owner, both operating as law firms.

NAI James E. Hanson negotiated the sale and the leaseback at 55 State Street, a 9,000-square-foot office building. Iron Capital Management, LLC sold the building to 55 State St. Holdings, LLC.

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Just one block from the Bergen County Courthouse and Administrative Complex, 55 State Street is a two-floor office building, suited for attorneys and other professional service businesses, according to NAI, the commercial real estate broker. As part of the sale agreement, the previous owner, who operated a law firm on the second floor, will lease back the space and continue their practice. The building's new owner, also a practicing attorney, will occupy a 4,500-square-foot vacant space on the lower level.

“The Bergen County Courthouse and Administrative Complex remains a key demand driver for Downtown Hackensack’s office sales and leasing market,” said Cassano. “With the anticipated influx of new residents and businesses in the coming years, we expect the market to become even more competitive, making properties like 55 State Street highly-attractive investment opportunities for owner-operators.”

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