Real Estate Weekly
Image default
Deals & Dealmakers

St Josephʼs Health to anchor state-of-the-art medical complex

The facility is slated to open in early 2021

Lee & Associates-NJ represented St. Joseph’s Health in securing a long-term lease of 60,000 s/f within a new 125,000 s/f Medical Arts Complex being developed by CHA Partners (CHA) in Totowa, New Jersey.

Lee & Associates brokers Brian Lynch, Peter Rasmusson, Jason Lynch and Joe Tormen exclusively represented St. Joseph’s Health in the transaction.

“St. Joseph’s will transform the site into a state-of-the-art, high quality medical facility, and deliver the level of care for which the health system is known”, commented Rasmusson.

The facility is slated to open in early 2021, and will serve as a primary and specialty care medical hub for patients.

“By creating an Ambulatory Care Center in the Totowa community, St. Joseph’s is expanding its services to increase access to high-quality health care,” said Kevin J. Slavin, President & CEO of St. Joseph’s Health. Bill Colgan, Managing Partner of CHA Partners, said, “We look forward to recruiting complementary healthcare services to Totowa and its local environs in order to provide a diverse mix of community-based healthcare services.”

The complex will have space for visitor and staff parking. “With its proximity to Routes 80, 46 and 23 and mass transportation, we recognized the property’s strength and attractiveness in the medical office space market in Passaic County. It represented a tremendous opportunity for St. Joseph’s expansion and accessibility goals,” said Lynch.

CHA acquired the 140-acre mixed-use campus, formerly known as the North Jersey Developmental Center, and secured site plan approvals for five separate development parcels, including a 276,000 s/f data center, which is presently under construction, and a 262-bed senior care center which will consist of assisted living and skilled nursing care, the construction of which will commence later this summer.

Related posts

Avison Young arranges 99-year ground lease for an estimated $21.5 million


Rosewood Realty Group Brokers $36.5 Million Sale of 15-Story Hells Kitchen Mixed-Use Building


Miller Construction Begins Work on an 80,000-Square-Foot Build-to-Suit Industrial Warehouse in Orlando