Real Estate

Lee & Associates NJ Arranges 60,000 SF Medical Office Lease

Lee & Associates New Jersey, a full-service independent commercial real estate firm, represented St. Joseph’s Health in securing a long-term lease of a 60,000-square-foot, four-story medical office building at 169 Minnisink Road in Totowa.  A team of Lee & Associates New Jersey brokers that includes Brian Lynch, Peter Rasmusson, Jason Lynch and Joe Tormen exclusively represented St. Joseph’s Health in this 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 Lee & Associates Senior Vice President Peter Rasmusson. The center 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 our services to increase access to high-quality health care,” said Kevin J. Slavin, President & CEO of St. Joseph’s Health. “Located conveniently adjacent to major highways, we look forward to bringing primary and specialty care and the latest diagnostic and treatment options to the entire Totowa region in a state-of-the-art center designed for patient convenience.”

The new site, which will begin construction this summer, will offer patients world-class primary care physicians and specialists. The center also will include amenities for ease of scheduling, and the latest technology to enhance patient experience, in addition to health and community education programs.

The property, originally part of a 147-acre parcel, was acquired by Community Health Care Associates (CHA) represented by Bill Colgan. The planned medical facility will have ample 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,” commented Lee & Associates Principal Brian Lynch. With signing of this lease St. Joseph’s Health has secured one of two 60,000 SF buildings located on the campus.

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