NAI James E. Hanson said Thursday it 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 in Clifton.
The property, located at 1135 Broad St., stands three stories and is a 68,000-square-foot office building in one of New Jersey’s most densely populated submarkets.
The building boasts 600 feet of frontage on the Garden State Parkway and easy access to Routes 3, 19 and 46. Additionally, it is undergoing substantial capital improvements to be completed by the 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, 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.
NAI James E. Hanson’s Randy Horning and Darren Lizzack represented the landlord, First Equity Development Co., 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.
Previously based in Bloomfield, Dentistry for Children outgrew its existing space and was hoping to move into a larger office with increased parking and a more modern feel. Dentistry for Children recognized that 1135 Broad St. would be an ideal new home for their practice.