Health Care & Education

The health care and education sectors are undergoing dramatic changes. So are their real estate needs.

Office
Silverman Group sells Morris Township medical office building for $13 million, C&W says

The Silverman Group has sold a more than 58,000-square-foot medical office building outside Morristown for $13.2 million, in a newly announced deal by Cushman & Wakefield.

Professional Services
PS&S acquires engineering team specializing in life sciences, chemical process industries

Professional services firm PS&S has acquired an engineering group in Allentown, Pennsylvania, bolstering its life sciences platform while expanding its reach in the region.

Office
Newmark: Hackensack Meridian leases 50,000 sq. ft. at Red Bank’s new-look River Centre

Hackensack Meridian Health has taken 50,000 square feet at a revitalized office campus in Red Bank, topping a list of newly announced deals by the property’s leasing team.

Top News
Prism lands approvals for long-awaited housing phase at ON3, among other major projects

Prism Capital Partners has secured three key approvals for its flagship ON3 campus in Clifton and Nutley, paving the way for new phases including a long-awaited residential component with nearly 1,100 multifamily units, along with a major research and development facility.

Technology
SJP breaks ground on 370,000 sq. ft. research, office building for Nokia Bell Labs at New Brunswick’s HELIX campus

SJP Properties has started construction on the 10-story, 370,000-square-foot research and office tower in downtown New Brunswick that will house Nokia Bell Labs and mark the second phase of the master-planned Health + Life Science Exchange district.

Education
Students tour new Russo, Hero Development projects to cap off ULI’s UrbanPlan program in East Brunswick, East Orange schools

The developers of new apartment buildings in New Brunswick, East Brunswick and East Orange welcomed students to the properties recently as part of an Urban Land Institute program that exposes high schoolers to commercial real estate planning and construction.

Editor’s Note
System updates

As you’ll read in this month’s cover story, New Brunswick is marking its latest and perhaps most monumental investment in health care with the opening of the 12-story, 520,000-square-foot Jack & Sheryl Morris Cancer Center. Executives with RWJBarnabas Health, the Rutgers Cancer Institute and other key stakeholders unveiled the facility in mid-May, hailing the arrival of New Jersey’s first freestanding cancer hospital and one of only 13 in the country, part of a $1 billion project that has brought top-tier patient care and cutting-edge research labs under one roof.

Health Care
JLL launches marketing for plug-and-play lab suites at New Brunswick’s HELIX district

The team behind the sweeping Health + Life Science Exchange campus in New Brunswick is seeking tenants for a group of prebuilt laboratory and office suites, part of a 574,000-square-foot building that’s slated to open later this year.

Health Care
Health care practice buys 14,000 sq. ft. medical office complex in West Orange, Newmark says

A regional medical practice has acquired a nearly 14,000-square-foot medical office complex in West Orange for $2 million, in a newly announced deal by Newmark Associates CRE.

Health Care
Vital investments: Landmark cancer center in New Brunswick is ‘just the beginning’ of broader real estate, facilities strategy by RWJBarnabas

The new Jack and Sheryl Morris Cancer Center is the centerpiece of a massive investment in RWJBarnabas Health’s physical footprint — one that’s ongoing — highlighting the increasingly important role of ground-up development in New Jersey’s health care sector.