With a projected opening set for 2026, Cushman & Wakefield is marketing the sale of a fully leased Bergen County home to adult day care provider Lily Life.
Located at 2 Christie Heights St. in Leonia, the state-of-the-art facility boasts 67,000 square feet and a list price of $15 million.
Cushman & Wakefield revealed the assignment Oct. 20. The firm said Lily Life is already fully subscribed, and boasts a significant waiting list amid strong regional demand.
Managing Director Andrew Schwartz, Executive Vice Chair David Bernhaut, Director Jordan Sobel, Senior Associate Andre Balthazard and Associate Dan Bottiglieri lead the CushWake team representing the seller.
According to the firm, Lily Life has made significant capital improvements at the site. Upgrades include nearly $2.5 million invested in premium interior finishes and a best-in-class environment to serve the local community’s predominantly Korean population.
A ‘critical need’
“This is a rare opportunity to acquire a newly renovated, financeable asset with secure, long-term income in a premier infill location,” commented Schwartz. “The adult daycare facility’s immediate full capacity demonstrates the tenant’s deep community roots and the critical need for this type of service in Bergen County. Its strategic location also makes it an exceptionally attractive investment.”
Situated less than 3 miles from the George Washington Bridge, 2 Christie Heights St. is also accessible to other Bergen County destinations, such as Fort Lee and Palisades Park.
Cushman & Wakefield also noted significant barriers to entry for similar, large-scale adult services operations — further enhancing the property’s value and long-term stability.
Avison Young announced the lease to repurpose 2 Christie Heights St. to an adult day care facility at the end of 2023.
Representing the landlord, that firm secured MFR Enterprises as tenant, with plans for it to renovate and operate the site. At the time, Avison Young said MFR Enterprises planned to open Lily Life at the two-story building.
“Demand for quality care for adults is growing. The Borough of Leonia understands the benefit of having a resource like this in place and we look forward to serving this community,” MFR Enterprises owner Michael Reuten said back in 2023.
