Newmark Associates cites demand for medical office space
The Sunday Star-Ledger
Newmark Associates announces that its medical division, designed specifically to service the requirements of physicians, pharmaceutical and medically related firms, has had resounding success in the year since its inception. The medical division, staffed with consultants skilled in the unique requirements of medical practitioners, placed more than 50,000 square feet in various locations in the first quarter of 2006.
“Medical tenants have distinct needs. Those working in Newmark Associates’ medical division have the skills necessary to understand the nuances of a medical practitioner’s requirements,” said Susanne Newmark, president of Newmark Associates. “An analysis of all costs, including tenant improvements, as well as the economics of the lease are critical in determining the most suitable placement of a medical practice. Our medical division managers the entire process, providing our clients with unique opportunities and cost-effective solutions.”
Recent transactions have included a lease of 14,000 square feet to The Surgical Center in Cedar Knolls. As exclusive representative for 197 Ridgedale Ave., Cedar Knolls, the building provides proximity to Morristown Memorial Hospital and easy access to highways, making it a premier location for Morristown-based practices. Limited space remains available and is being marketed by Debbie Myers and Judith T. Feldman, senior representatives of the medical division.
Senior sales associate Judith T. Feldman has been involved with the purchase of facilities for dental and surgical practices and leasing of medical offices. Feldman has placed Springboard Therapy in its new Morristown location, as well as Childworks Therapy in its Parsippany location. Other medical transactions include Woodland Radiology in West Orange, and the leasing of the corporate offices for the International Sleep Lab Co. in Iselin.
Senior Vice-President Debbie Myers has been responsible for the marketing and sales exclusively of medical units in North Arlington. As exclusive broker, all units were sold under Myer’s directions. One unit remains available for sale. Vice-President Pat Cunningham placed Northern New Jersey Orthopedic Specialists in its new office location, which Senior Vice-President Meryl Ehrenkranz was responsible for the placement of Sports Training Physical Therapy in two new locations. Ehrenkranz also relocated American Access Care to its new location in Union, and negotiate the leases for the Center of Treatment of Eating Disorder in Livingston, as well as Spine and Pain Medicine in Millburn.
Newmark Associates is marketing several medical/professional locations in the Short Hills, Florham Park and Cedar Knolls areas.
In addition to its medical division, Newmark Associates has closed other notable transactions. Vice-President Bill Cunningham represented the owners in the sale of an industrial property in Randolph. The property, located on Middlebury Boulevard, will be the site of a new 25,000-square-foot industrial building. Nancy Glick, sales associate, represented the owner in the sale of a freestanding office building located on Route 46 in Montville. Glick is marketing several office properties in the Pine Brook area, as well as parcel of property that may be developed into a retail strip shopping center.
Debbie Myers, Senior Vice-President, closed the sale of two downtown strip centers in a transaction valued at more than $3.8 million. Myers represented the purchasing entity in the sale.
Newmark Associates Inc. is located in Whippany.
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