160 Pehle Ave
Saddle Brook, NJ 07663
Park 80 East · Office Property For Sale

Please contact Alan Cafiero to schedule property tours at alan.cafiero@marcusmillichap.com or 201-742-6118. Investment Highlights: 83,168 SF value-add office building (Leasehold Interest) 46 Years Remaining on Ground Lease Property recently reassessed by Property Assessor Huge value-add through lease-up of the available 50% of GLA (41,519 SF) at market rates Potential redevelopment opportunity with favorable CH-1 Zoning (Limited Commercial-1 District) Recently Upgraded Signage, Entryway, and Lobby A+ Bergen County location at the intersection of I-80 and Garden State Parkway Dense demos with 669,194 residents & average HH income of $84,001 within 5-mile radius Investment Overview: Park 80 East is a 83,168 SF office building located at 160 Pehle Avenue Saddle Brook, New Jersey. This value-add offering provides the unique opportunity to purchase the ground lease interest of the investor owned office building and substantially increase future NOI through lease-up at market rates. Park 80 East is 4-story, rectangular-shaped, multi-tenant office building offering two elevator banks, 9-foot ceiling heights, newly remodeled entrance, signage, lobby, and mature landscaping. Park 80 East is situated on 4.3 AC with 373 asphalt parking spaces (4 per 1,000 SF). The building offers 17 tenant units of which 9 are currently occupied to a mix of tenants including Liberty Mutual Insurance, Solomon Page Group, NJ Urology, CRS Facility Services, HEPCO, BCD Health Partners, Petmatrix, Friend Skoler & Co, and Safe Streets USA.. The building can accommodate new tenants seeking 1,341 SF up to 21,341 SF of contiguous space and there is a huge value-add opportunity through lease-up of the available 50% of GLA (41,519 SF) at market rates. Additionally, this Property offers a potential redevelopment opportunity with favorable CH-1 Zoning (Limited Commercial-1 District). This zoning allows for various uses including hotel, business and professional offices, medical clinics, scientific/engineering/research offices, banks and financial institutions, and other public uses. When built, the leasehold position signed a 95 year absolute NNN lease, which expires in 2062 or 46