Vacant data center to become day school, CBRE says

A former data center in Teaneck that has stood empty for eight years has been sold and will be converted into a day school, according to real estate brokerage CBRE Group Inc.The 55,000-square-foot center at 1500 Queen Anne Road includes three buildings on three acres of property, the brokerage said Thursday in a news release. The new owner will rehabilitate and expand the buildings to create the He’atid Yeshivat Day School, which will include 20 classrooms and is scheduled to open in January 2016.

CBRE Capital Markets Investment Properties’ Elli Klapper, in New York, and Charles Berger and Bill Hassan, in New Jersey, served as brokers for both the buyer and the seller.

“The CBRE Tri-State Investment Properties team enjoyed being able to identify the right property that would best serve and benefit the nonprofit school,” Klapper said in a prepared statement. “Though the buildings were vacant for almost a decade, the property was well-maintained and fit the needs of the school, with its fully fenced exterior, security cameras and electric gates, which will make ideal entrances to the school.”

The transaction necessitated months of rezoning issues to convert the property for educational purposes, CBRE said.