Clifton, N.J. (March 26, 2020) – NAI James E. Hanson announces it has negotiated a lease extension for 21,895 square feet of medical office space with St. Joseph’s Hospital and a new lease for 5,050 square feet of medical office space with Dentistry for Children at 1135 Broad Street in Clifton, N.J. NAI James E. Hanson’s Randy Horning, MSRE and Darren Lizzack, MSRE represented the landlord, First Equity Development Company, in the transactions. St. Joseph’s Hospital was represented by Peter Rasmusson, Joe Tormen, and Michael Willis of Lee & Associates and Dentistry for Children was represented by Joe Lombardi of Masserano Real Estate and Consulting, Inc.
Standing at three stories, 1135 Broad Street is a 68,000-square-foot office building located in one of New Jersey’s most densely populated submarkets. The modern building boasts 600 feet of frontage on the Garden State Parkway and easy access to Routes 3, 19, and 46. Additionally, the building is undergoing substantial capital improvements to be completed by spring of 2020 including the installation of a “Grab and Go/Smart Cafe” on the first floor, renovation of common area hallways, and repaving of the parking lot. The building’s modern design, supreme visibility, and ideal location have made it highly attractive to medical office users with a current tenant lineup including St. Joseph’s University Medical Center, Kessler Rehabilitation Center, Tenafly Pediatrics, and Children’s Specialized Hospital.
For over 150 years, St. Joseph’s Hospital has upheld its unwavering commitment to quality patient care. Advanced diagnostic and treatment technologies are provided daily by highly skilled physicians and nurses, that are designed to heal the body, mind, and spirit. St. Joseph’s is continuously recognized by the U.S. News & World Report, as Best Hospital in the New York Metropolitan Area and among the Top Hospitals in the State of New Jersey. Their location at 1135 Broad Street is one of 28 off-site locations, each providing care for a wide variety of health conditions.
Previously based in Bloomfield, N.J., Dentistry for Children had outgrown their existing space and was hoping to move into a larger office with increased parking and a more modern feel. Featuring a range of synergistic healthcare tenants coupled with modern design, location, and visibility, Dentistry for Children recognized that 1135 Broad Street would be an ideal new home for their practice.
“Today’s medical office tenants are increasingly recognizing the benefits of locating their practices in highly visible locations featuring other complimentary practices to add convenience for their patients,” said Lizzack. “This has led to a shift away from hospital-centric healthcare clusters as medical office users search for highly visible locations directly in the communities they serve. For medical office tenants that prize patient convenience and ease of access, buildings like 1135 Broad Street continue to present an ideal environment in this new healthcare real estate market.”
Made up of Darren Lizzack, MSRE, and Randy Horning, MSRE, Team Lizzack-Horning of NAI James E. Hanson is an expert brokerage team that specializes in healthcare, office and investment property transactions. Named to the 2019 GlobeSt. Healthcare Influencers List, Team Lizzack-Horning has also become one of New Jersey’s most successful healthcare brokerage teams. More than just transaction managers, Team Lizzack-Horning adopts a holistic and analytical approach to real estate and has created a deep network of trusted professionals to help clients navigate the increasingly complex nature of today’s transactions. Together, the team has successfully closed more than 70 deals over the past four years.
1135 Broad Street will have a 7,800 sq. ft. suite coming available on June 1, 2020. For more information please contact Darren Lizzack, MSRE, at 201-488-5800 x104, dlizzack@naihanson.com or Randy Horning, MSRE, at 201-488- 5800 x123, rhorning@naihanson.com.
