Prism Capital Partners’ Edison Village project in West Orange has 13,000 square feet of health care and medical office space. — Courtesy: Prism
By Joshua Burd
Prism Capital Partners has picked Newmark Associates as its leasing agent for health care and medical office space at its 21-acre, mixed-use Edison Village project in West Orange.
With the new assignment, the brokerage team will market roughly 13,000 square feet of ground-floor space that has been dedicated to health and wellness users. The offering is part of Prism’s high-profile adaptive reuse and redevelopment of Thomas Edison’s historic Invention Factory and Commerce Center, which spans 21 acres on Main Street and now includes 334 luxury apartments and supporting amenities, along with a 630-space parking structure.
Newmark Managing Director Judith Tell Feldman, who leads the firm’s health care division, will handle the assignment alongside Sales Associate Jeannette Melillo. They noted that the health care space at Edison Village has modern mechanics, high ceilings and ample parking designated for patients and staff.
“Prism understands the market and has created exceptional space for health care providers while more than generously addressing parking, which can be a challenge in downtown areas,” Feldman said, noting that Edison Village ultimately will incorporate additional housing options, including for-sale townhomes.
“Edison Village offers a built-in, on-site projected population of approximately 1,000 and also is easily accessible from many other communities in the region,” Feldman added. “I anticipate this opportunity will be particularly attractive to larger providers of comprehensive primary care or specialized care.”
The health care and medical office space is part of an overall 18,400-square-foot retail component, Prism said. Ripco Real Estate is marketing the balance of the space, which is known as The Shoppes at Edison Village.
“Judy knows how to get deals done,” said Edwin Cohen, principal partner with Nutley-based Prism. “We are pleased to have her lead our efforts to bring in-demand health care services to Edison Village. The end result will benefit our community’s residents as well as those who live and work in the surrounding area.”
