Valley Negotiating Purchase of Paramus UPS Building: Report

Valley Hospital, currently engaged in a proposal to expand its main campus in Ridgewood, has also been expanding its space beyond the village facility.

Real estate sources tell The Record the hospital is in negotiations to purchase a UPS property on Winters Ave. in Paramus for roughly $25 million. The property currently contains three 50,000-square-foot buildings the shipping company had already announced plans to close.

It would be the third major property acquisition by the hospital in the last year, following a purchase of a former Paramus blood bank last June and an office building in Ridgewood in November.

According to The Record report, Valley intends to construct a fitness and wellness center at the building, located near Route 17.

The hospital is currently before the Ridgewood Planning Board with an expansion proposal to nearly double the size of its main campus. Hospital officials have testified that the impact of the renovations will be reduced by a relocation of some services to other facilities.