St. Joseph’s Health will occupy a new built-to-suit, 140,000-square-foot medical office complex at 169 Minnisink Road in Totowa developed by CHA Partners — Courtesy: Lee & Associates New Jersey/CHA Partners
By Joshua Burd
A hospital network is expanding its footprint with a built-to-suit, 140,000-square-foot medical office complex in Totowa, in a newly announced transaction by Lee & Associates New Jersey.
The brokerage firm, which represents Paterson-based St. Joseph’s Health, said the provider will occupy the two-phase complex at 169 Minnisink Road under a lease with developer CHA Partners. Construction is underway on the first phase, a 70,000-square-foot facility that is expected to deliver in the fourth quarter, as well as a second phase that is slated for late 2022.
Peter Rasmusson, Joe Tornen, Jason Lynch and Bryan Lynch of Lee & Associates New Jersey completed the 15-year lease on behalf of St. Joseph’s.
“In each of the communities in which we are involved, our primary goal is to promote the provision of top-quality health care facilities and services,” said Bill Colgan, managing partner of Bloomfield-based CHA Partners. “We value St. Joseph’s trust in CHA’s ability to deliver a best-in-class medical center that will fulfill the collective goals of St. Joseph’s, CHA and the borough of Totowa.”
CHA, which focuses on health care projects, is the master developer of the site just north of Interstate 80. The property is part of the 140-acre former North Jersey Developmental Center campus, where redevelopment has been ongoing.
“We are proud to have arranged this significant new addition to St. Joseph’s New Jersey healthcare footprint,” Rasmusson said. “As St. Joseph’s exclusive real estate advisor, we worked with them in lockstep from concept to construction as they prepare to occupy the new state-of-the-art facility. Health care centers throughout the state are more important than ever, and it is important to St. Joseph’s that they work with a real estate advisory team that specializes in this critical, specialized sector.”