NAI Fennelly is celebrating its successes from the third quarter of 2022, securing more than 17,000 square feet in leases and sales in the health care sector and nearly 30,000 square feet in office leases.

During Q3, those transactions covered different parts of the industry, including physical therapy, dentistry, neurology and special needs services. Among NAI Fennelly‘s largest lease transactions were:

• a 3,802-square-foot lease with a division of Fresenius Medical Care at Whitehorse Executive Center in Hamilton
• a 2,464-square-foot lease with Lawrenceville Smiles in Lawrenceville
• two leases totaling 4,700 square feet with Kaleidoscope ABA at Whitehorse Executive Center and at 231 Clarksville Road in West Windsor

“There continues to be healthy activity from health care practitioners looking for space across central New Jersey and eastern Pennsylvania,” said firm President Jerry Fennelly in a statement. “Despite the emergence of telehealth services, we continue to see health care tenants prioritize securing approachable and convenient physical offices.”

Though the pandemic did offer an opportunity to expedite the adoption of technology in health care, experts say moving forward the approach is not either/or, but both, when it comes to telemedicine and in-person care. FAIR Health reports that telehealth visits in the Northeast in July 2022 and August 2022 represented just 5.8% of all medical claims; in 2021, those numbers were 4.9% and 5.0%, respectively. Either way, that leaves a lot of space for in-person treatment.

“Considering the high competition among health care tenants in finding these premier locations, it continues to be important for them to work with an experienced real estate services team to provide the solutions needed to suit their unique business needs,” Fennelly said.

Pivoting to the office sector, NAI Fennelly said last week it negotiated 28,981 square feet of leases during Q3, attributing the success to the experience, counsel and local market data offered by the firm’s brokerage team, which in addition to Jerry Fennelly also includes Corporate Real Estate Specialists Matthew Fennelly and Patrick Dintrone.

“While it’s clear that the office market might never return to the pre-pandemic ‘normal,’ we continue to see significant leasing activity from professional services, life sciences and pharmaceutical clients searching for spaces that can inspire their employees once again,” Jerry Fennelly said. “As we saw across the third quarter, this trend continues to place owners of high-quality and adaptable spaces in an advantageous position to secure high-quality tenants.”

Transactions highlighted by NAI Fennelly from Q3 include representing Genesis Properties in its lease renewal with Colliers Engineering for 8,900 square feet at 100 Waterview Drive in Hamilton and several deals in which the firm represented tenants, such as:

• Atlas Systems’ lease for 4,053 square feet at Two Tower Center in East Brunswick
• Hamilton & Co.’s agreement for 3,416 square feet at 600 College Road in Princeton
• Apex Pharma’s 4,100-square-foot renewal and expansion at 2650 Route 130 in Cranbury.

More from NAI Fennelly

• At mid-year, firm closes 110K square feet in office sales, leases
• New warehouse slated for Millstone following NAI Fennelly-negotiated sales
• Trenton industrial complex trades for $5.6M