Bob’s Discount Furniture is moving from its current Paramus location to the former Fortunoff Building on Route 17, according to retail real estate firm Ripco Real Estate.Bob’s, which currently has its Paramus location at 460 Route 17, will move into the vacant 39,000-square-foot site at 150 Route 17, Ripco said.

“With around 150,000 cars passing this highly visible signature Route 17 location daily, this should be a terrific location for Bob’s,” Ripco’s Ira Kerner said in a prepared statement.

RELATED: Ripco to lease former Fortunoff building in Paramus

Terms of the lease were not disclosed. The property owners, 150 Route 17 LLC, had hired Ripco in October 2014 to exclusively lease the property. Kerner and Alison Horbach handled the assignment for the firm, which is based in New York state and has an office in Lyndhurst.

“With five major regional malls within three miles of the site, Bob’s will be in a great position to capitalize on the existing retail traffic,” Horbach said in a statement.

The Fortunoff Building has not had a permanent tenant since July 2009, Ripco said.

BKR Services represented Bob’s in the transaction.

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