Property Details

  • Capstone acquired a 73% leased class-A office building from LNR Partners.
  • The buildings total ~650,000 SF and are located at 401,411 & 433 Hackensack Avenue in Hackensack, NJ.
  • Continental Plaza comprises some of the most desirable office space in its market due to the excellent proximity to shopping, restaurants, and transportation.
  • The complex underwent $16MM in renovations including: new HVAC/Mechanical systems, refreshed lobbies and corridors, new amenity spaces including a health & wellness center, conference center, coffee bar, and more.
  • The property was sold in December 2019 at a substantial gain.
Asset Class Office
Property Size 650,000 SF
Investment Status Sold
Realized Deal IRR 31.6%
Realized Deal EM 2.24X
Hold Period 3 Years

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