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Deals & Dealmakers

Health center takes 53,000 s/f in Jersey City

GAIA Real Estate has signed a 53,222 s/f office and retail lease at 2 Journal Square with Englewood Health.

The health system comprising Englewood Hospital and the Englewood Health Physician Network, plans to open a new multi-level, multi-specialty location at 2 Journal Square, a Class-A, nine-story 325,000 s/f building which recently completed a multi-million dollar extensive renovation.

The space will include medical offices for orthopedics, pain medicine, primary care, diabetes, OB/GYN, cancer, cardiology, pulmonology, urology and colorectal surgery. In addition, there will be onsite urgent care, breast screening and imaging, an infusion center and a laboratory.

DANNY FISHMAN

“We are excited to welcome Englewood Health to 2 Journal Square,” said GAIA CEO Danny Fishman. “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 healthcare providers.”

2 Journal Square sits on JFK Boulevard with retail and restaurants in the busy downtown neighborhood of Jersey City and features an indoor parking garage with more than 700 spaces and a shopping center on the ground floor. The building is located near many new residential developments and directly across from the Journal Square PATH station, which has an annual ridership of more than six million people.

Greg Barkan, Remy deVarenne and Sam Bernhaudt of CBRE represented Englewood Health in the 15-year lease agreement.

GAIA purchased 2 Journal Square in July of 2011 and spent over $10 million repositioning the building with an interior lobby renovation, exterior storefront facelift, the addition of 30,000 s/f of first-floor retail, modernization of the building’s seven elevators, energy-efficient lighting, upgraded bathrooms and full MEP upgrades.

Lobby at 2 Journal Square

“In just over one year GAIA completed all the renovations despite the ongoing COVID-19 crisis, and leased a third of the building,” added Fishman. “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.”

Other tenants at 2 Journal Square include: Chicago’s Pizza With a Twist, Chase Bank, Burger IM and others.

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