2 Journal Square in Jersey City — Courtesy: GAIA Real Estate
By Joshua Burd
A health system is taking more than 50,000 square feet at a Jersey City office building, where it’s planning a new multispecialty location to serve the growing Journal Square neighborhood.
GAIA Real Estate, the landlord at 2 Journal Square, announced this week that Englewood Health has leased 53,222 square feet of office and retail space at the 325,000-square-foot building. The multilevel medical hub will be the latest addition to the nine-story property after an extensive overhaul, which sought to capitalize on its location across from the Journal Square PATH station.
“We are excited to welcome Englewood Health to 2 Journal Square,” GAIA CEO Danny Fishman said. “Jersey City residents and those living in the surrounding area will now have more access to essential and much needed health care services from one of New Jersey’s highest-quality health care providers.”
Located along John F. Kennedy Boulevard, 2 Journal Square sits among a host of new residential developments. GAIA purchased the building in July 2011 and has spent more than $10 million repositioning the building with renovations to the interior lobby, an exterior storefront facelift, the addition of 30,000 square feet of first-floor retail space and a modernization of the building’s mechanical systems.
Englewood Health, which comprises Englewood Hospital and the Englewood Health Physician Network, will provide medical offices for orthopedics, pain medicine, primary care, diabetes, OB/GYN, cancer, cardiology, pulmonology, urology and colorectal surgery. The space will also have on-site urgent care, breast screening and imaging, an infusion center and a laboratory.
CBRE’s Greg Barkan, Remy deVarenne and Sam Bernhaut represented the health system in the 15-year lease agreement.
“For over 130 years, Englewood Health has provided personalized, compassionate care to the residents of northern New Jersey and beyond,” said Dr. Stephen Brunnquell, president of the Englewood Health Physician Network. “While our reach has included Jersey City and the people who live and work there, the addition of this new location at Journal Square will be a game-changer for the community. With increased access to medical expertise, services and screenings, people will be able to get the care they need, when they want it, right in their neighborhood.”
Fisher added that GAIA completed its renovations over the past year, despite the COVID-19 crisis, and leased a third of the building.
“We are negotiating with other potential tenants who want to move or relocate to the newly gut-renovated Class A office building with convenient public transportation in an area that is experiencing tremendous growth with thousands of apartment buildings located around it,” he said.