1135 Broad St. in Clifton — Courtesy: NAI James E. Hanson
By Joshua Burd
A local hospital system has extended its nearly 22,000-square-foot lease at a Clifton office building, in one of two newly announced deals by NAI James E. Hanson.
Brokers with the firm represented First Equity Development Co., the landlord at 1135 Broad St., in the extension with St. Joseph’s Health. The 21,895-square-foot space accounts for one of 28 off-site locations for the health network, which is based in Paterson, and nearly a third of the 68,000-square-foot building.
NAI Hanson’s Randy Horning and Darren Lizzack completed the assignment. Peter Rasmusson, Joe Tormen and Michael Willis of Lee & Associates represented St. Joseph’s.
Horning and Lizzack also represented First Equity in a new 5,050-square-foot lease by Dentistry for Children. Joe Lombardi of Masserano Real Estate and Consulting Inc. represented the tenant, which is moving to the three-story building from Bloomfield.
“Today’s medical office tenants are increasingly recognizing the benefits of locating their practices in highly visible locations featuring other complimentary practices to add convenience for their patients,” Lizzack said. “This has led to a shift away from hospital-centric health care clusters as medical office users search for highly visible locations directly in the communities they serve. For medical office tenants that prize patient convenience and ease of access, buildings like 1135 Broad Street continue to present an ideal environment in this new health care real estate market.”
In a news release, NAI Hanson touted the building’s 600 feet of frontage on the Garden State Parkway and proximity to routes 3, 19, and 46. The brokers also noted that the building is undergoing substantial capital improvements to be completed by this spring, including the installation of a so-called Grab and Go/Smart Cafe on the first floor, renovation of common area hallways and repaving of the parking lot.