Lee & Associates Arranges 60,000 SF Medical Lease for St. Joseph’s Health
Investment will Create Enhanced Medical Hub
Elmwood Park, NJ (June 2019) - Lee & Associates - New Jersey (Lee & Associates), a leading New Jersey-based full-service independent commercial real estate firm, announced it has represented St. Joseph’s Health in securing a long-term lease of 60,000-square-feet within a new 125,000 sf Medical Arts Complex being developed by CHA Partners (CHA) in Totowa, New Jersey. Lee & Associates brokers Brian Lynch, Peter Rasmusson, Jason Lynch and Joe Tormen exclusively represented St. Joseph’s Health in this transaction.
“St. Joseph’s will transform the site into a state-of-the-art, high quality medical facility, and deliver the level of care for which the health system is known”, commented Lee & Associates Senior Vice President Peter Rasmusson. The facility is slated to open in early 2021, and will serve as a primary and specialty care medical hub for patients.
“By creating an Ambulatory Care Center in the Totowa community, St. Joseph’s is expanding its services to increase access to high-quality health care,” said Kevin J. Slavin, President & CEO of St. Joseph’s Health. “Located conveniently adjacent to major highways, we look forward to bringing primary and specialty care and the latest diagnostic and treatment options to the entire Totowa region in a state-of-the-art center designed for patient convenience.”
Construction of this new Medical Arts Complex is slated to commence this summer, and will offer patients world-class primary and specialty care services. The new building will include amenities for ease of scheduling, current technologies to enhance patient experience, and incorporate health and community education programs. “Providing quality, community-based healthcare under one roof is our mission, and we are honored to welcome St. Joseph’s Health as the building’s anchor,” said Bill Colgan, Managing Partner of CHA Partners. “We look forward to recruiting complementary healthcare services to Totowa and its local environs in order to provide a diverse mix of community-based healthcare services.”
The new Medical Arts Complex, which will be situated at the corner of Minnisink and Vreeland Roads, will have ample space for visitor and staff parking. “With its proximity to Routes 80, 46 and 23 and mass transportation, we recognized the property’s strength and attractiveness in the medical office space market in Passaic County. It represented a tremendous opportunity for St. Joseph’s expansion and accessibility goals,” commented Lee & Associates Principal Brian Lynch. With the signing of this lease, St. Joseph’s Health has secured one of two 60,000 SF buildings comprising the Medical Arts Complex.
CHA acquired the 140-acre mixed-use campus, formerly known as the North Jersey Developmental Center, and secured site plan approvals for five (5) separate development parcels, including a 276,000 square foot data center, which is presently under construction, and a 262-bed senior care center which will consist of assisted living and skilled nursing care, the construction of which will commence later this summer.