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Deals & Dealmakers

Keystone Development + Investment Signs Lease With Summit Health at 17-17 Route 208 in Fair Lawn, N.J., Making Medical Office Building 100% Leased

Keystone Development + Investment has signed a long-term lease for 70,594 square feet of space with the Tri-State area’s premier physician-led multi-specialty practice at 17-17 Route 208 North in Fair Lawn, New Jersey. The agreement with Summit Health brings the prominently located, Class-A office building to 100% leased.

Summit Health is a patient-centric network committed to simplifying the complexities of health care. It delivers a more intuitive care experience for every stage of life and health condition through high-quality primary, specialty, and urgent care. The lease enables Summit Health to consolidate numerous practices under one roof to more effectively and efficiently deliver comprehensive and responsive medical care.

“Securing this kind of best-in-class location makes it possible for Summit Health to expand upon the services currently offered to residents of Fair Lawn and the surrounding communities. This strategic real estate initiative to co-locate multi-specialty services highlights Summit Health’s goal of providing unparalleled connected care for our patients,” says Steven Westort, VP Real Estate Development for Summit Health.

17-17 Route 208 offers building signage, high visibility, and easy access to the Garden State Parkway, Route 4, and Route 17. Keystone recently completed a multi-million dollar renovation, including a new roof, parking lot, and high-performance exterior coating. The building’s common areas, lobby, and restrooms were also renovated. The building received the 2017 BOMA TOBY Award for Best Renovated Building.

Keystone acquired 17-17 Route 208 in 2014 as part of a $230.8 million tri-state area portfolio it purchased from Mack-Cali Realty. The building, situated directly adjacent to Fair Lawn Promenade, features new elevators, a new 24-hour Vibe Grab-N-Go Cafe, on-site property management, abundant parking, and walkable amenities like a fitness center, daycare, Starbucks, restaurants, and shopping.

“The thoughtful improvements we’ve made here have created prompt demand for 17-17 Route 208 and this lease validates it as a premier location for a large, service-oriented healthcare provider like Summit Health,” says Keystone’s President and COO, Rich Gottlieb.

The lease will commence on July 1 with Summit Health opening their multi-specialty medical site in Q2 2023. Marc Rosenberg of Cushman & Wakefield represented the tenant and Sam Horowitz and Michael Tesser of Colliers represented the landlord.

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