NAI James E. Hanson Helps Edge Physical Therapy Find New Headquarters to Support Expanded Services in Paramus, N.J.

Dec 12, 2019

Paramus, N.J. (December 12, 2019)  – NAI James E. Hanson announces it has negotiated a 5,374-square-foot lease at 80 Route 4 East in Paramus, N.J. NAI James E. Hanson’s Darren Lizzack, MSRE and Randy Horning, MSRE represented the tenant, Edge Physical Therapy & Sports Medicine, LLC, and Cushman and Wakefield’s Curtis Foster and Jerry Shifrin represented the landlord, Stanford Atrium Corporation, in the transaction.

Featuring frontage on Route 4, 80 Route 4 East is a 168,000-square-foot office building in a prime, high-traffic location nearby the crossroads of Routes 4 and 17. Offering excellent accessibility, the property is just one mile from Garden State Parkway, six miles from the New Jersey Turnpike, and seven miles from the George Washington Bridge and offers proximity to two regional shopping centers, restaurants and a health club. 80 Route 4 East also boasts a dual skylighted five-story garden atrium and a 9.35-acre lot with ample parking.

Based in Paramus, N.J., Edge Physical Therapy & Sports Medicine specializes in physical therapy, acupuncture, chiropractic care, podiatry, sports medicine, internal medicine, pain management, personal training, and nutrition. Edge Physical Therapy leverages modern technology, best practice physical therapy and passionate, industry leading clinicians to provide and support personalized orthopedic, sports, and rehabilitation services in a positive, friendly, and upbeat environment.

In response to their ongoing growth and transformation seen in the healthcare landscape, Edge Physical Therapy was searching for a modern, well-configured space that would allow them to add other ancillary services to enhance the environment for their clientele. 80 Route 4 East’s flexible floorplans coupled with the building’s high visibility and proximity to Edge Physical Therapy’s former headquarters just two miles away will provide the facility with ideal access to current and prospective clients.

“We’ve seen a deliberate shift in medical office tenants’ space needs in recent years, with consolidation and enhanced service offerings serving as the primary drivers,” said Lizzack. “As a result, many providers have begun to rethink their real estate needs in order to reduce overhead while maintaining a competitive position in the marketplace. We were pleased to leverage our deep medical office expertise to help our client secure a new home that could accommodate their evolving space needs and ensure they can continue to provide quality service to their growing client base.”

Horning added, “The changing configurations of medical office space as a result of this trend are also creating opportunities for landlords to secure long-term leases with practice groups that require larger amounts of space. The higher construction costs associated with these more complex buildouts create stability for landlords, ensuring steady, long-term cash flow with high quality, recession-resistant tenants.”

For more insights on the northern New Jersey medical office market, please download NAI James E. Hanson’s Q3 2019 Medical Office Report, which highlights market trends and key data in the medical office asset class throughout the region.

 

 

 

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