Newmark Associates' Health Care Division breaks records
The Sunday Star-Ledger
Newmark Associates, Inc.’s specialized Health Care Division has demonstrated unprecedented success in the leasing and sale of professional medical and pharmaceutical offices. Despite current market conditions, Susanne Newmark, president of Newmark Associates, said, “Our team of healthcare real estate consultants has produced extraordinary results for our clients in a most, challenging market. Leasing and sales for healthcare providers is a specialized area of real estate providing the guidance to our clients has proven to create value in a field requiring expertise.”
Senior Vice-President Meryl Ehrenkranz was primarily responsible for the transformation of 220 Ridgedale Ave. in Florham Park from an obsolete office property into a state-of-the-art medical facility. The building, originally sold to a developer by Ehrenkranz, now provides professional and medical condominium offices for sale. Additionally, Ehrenkranz was appointed to exclusively market and lease 347 Mount Pleasant Ave. in West Orange. In cooperation with CBRE’s Don Sperling, she brought the building occupancy to 98 percent, with the 15,000-square-foot addition of The Dermatology Group.
The director of the Health Care Division, Judith Feldman, was instrumental in the search and development of new facilities for an Urgent Care Center soon to be opening in Morristown. Additionally, she has leased a newly constructed, 15,000-square-foot building to a recently formed medical group specializing in urology.
Susanne Newmark has leased approximately 25,000 square feet of medical space to Florham Park Surgery Center, Advances Laparoscopic Surgeons of Morris, LLC and physical therapy provides at 83 Hanover Road in Florham Park. She also has leased 20,000 square feet in Bedminster to EKR Therapeutics, a specialty pharmaceutical company committed to enhancing patient quality-of-life in the acute care hospital setting. The new location will serve as corporate headquarters for the EKR. Most recently, Newmark represented Armada Healthcare in its search for corporate headquarters now located at 51 JFK Parkway in Short Hills.
Nancy Glick, senior associate, has leased 15,000 square feet of offices to Walgreen’s Specialty Pharmacy, LLC in cooperation the Neil Richards, of Vanguard Realty Inc. The new facility, a Mack-Cali building, located on Mount Kemble Avenue in Morristown, is the premier facility for Walgreen’s in New Jersey.
Debbie Myers, senior vice-president, has sold three properties in Livingston over the past several weeks. Properties include 93-95 Livingston Ave. and 48 E. Northfield Road, two retail locations. She also was a team member, along with Ehrenkranz and Bill Cunningham, in the sale of 13 acres on Industrial Parkway in Livingston.
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