By Joshua Burd
Five physical therapy providers have combined to lease more than 17,000 square feet in northern and central New Jersey, in a series of newly announced deals by The Goldstein Group.
In the largest transaction, Excel Physical Therapy leased 4,700 square feet at the Berkeley Heights Shopping Center at 400 Springfield Ave. in Berkeley Heights. The Goldstein Group Director Christopher Conway and Vice President Richard Curran III represented the landlord, Berkeley Development Co. L.P., while Mary Premtaj of Provident Properties-Sotheby’s represented the tenant.
The other transactions include:
- Kessler Rehab’s 2,650-square-foot lease at Pheasant Run Shopping Center at 127 Washington Valley Road in Warren. The Goldstein Group Director Marc Palestina and President Chuck Lanyard represented the landlord, 2 Dedrick Place LLC, a subsidiary of Hampshire Management, while Claire Huffman of Jackson Cross Partners represented the tenant.
- SportsMed Physical Therapy’s 2,500-square-foot lease at 4700 Bergenline Ave. in Union City. The Goldstein Group Sales Associate Alex Goldstein represented ownership, Union City Bergenline LLC, an affiliate of ARC Properties, while Tony Nabhan of Keller Williams represented the tenant.
- SportsMed Physical Therapy’s 3,095-square-foot lease at 720-726 Bergen Ave. in Jersey City. Conway and Christian Marolakos, a sales associate with The Goldstein Group, represented the landlord, 720-726 Bergen Avenue, Urban Renewal LLC, while Nabhan represented the tenant.
- Synergy Spinecare and Rehabilitation’s 4,530-square-foot lease at Columbia Park Shopping Center at 3139 Kennedy Blvd. in North Bergen. The Goldstein Group Principal Neil Goldstein represented the tenant, while Cushman & Wakefield represented the landlord, Columbia Park Retail Owner LLC.
“Medical-related companies have been leasing retail spaces over the past several years,” Lanyard said. “We have seen an influx of physical therapy companies expand and they are looking at retail spaces as an opportunity to be close to their potential customers. As the population ages and people are active in a variety of activities, injuries occur thus the need for therapy exists.”