Cushman & Wakefield secured another tenant for the Paramus Corporate Center in Bergen County — Valley Medical Group.
The physician-led and professionally managed group practice signed a lease for 22,500 square feet of space at the property located at 95 N. Route 17 in Paramus, according to a Jan. 26 announcement from the real estate services firm, under which the tenant will occupy most of the first floor of the building.
Cushman & Wakefield Senior Director Jeffrey Prezant represented the landlord, East Brunswick-based American Equity Partners, while Senior Director Peter Hamburger, Vice Chair Robert Rudin and Director Jan Randall represented Valley Medical Group in the transaction.
A part of Valley Health System, the medical group has more than 300 physicians, physician assistants and nurse practitioners across nearly 30 specialties offering primary, walk-in and specialty care from more than 20 municipalities in North Jersey and southern New York State, and from The Valley Hospital and Valley’s outpatient facilities.
“Valley is a great tenant, and we are excited they committed to our building with a long-term deal,” said David Elkouby, partner, American Equity Partners. “We very much enjoyed working closely with Cushman & Wakefield, as they did a great job bringing this deal to a close.”
Last May, Cushman & Wakefield announced two leases totaling more than 13,000 square feet at the nearly 120,000-square-foot four-story, Class A building. Prezant also represented the landlord in those transactions with Thermo Fisher Scientific Co. LLC and Behavioral Health Practice Services LLC. The latter also occupies space on the building’s first floor.
The Paramus Corporate Center recently underwent renovations – using all sustainable and energy efficient materials, according to Cushman & Wakefield – resulting in a rebuilt lobby and new common areas, flooring, roofing, lighting and bathrooms.
Amenities at the property include a new café, lounge and fitness center.
In a statement, Prezant said that Valley Medical Group would benefit from the new property’s updates, along with its ideal location.
“Ownership has done an incredible job renovating the building to provide tenants with a best-in-class office environment, equipped with everything they need to be successful” he said.
Paramus Corporate Center is located adjacent to the Westfield Garden State Plaza mall and easily accessible from Route 17 and 4 and the Garden State Parkway.d