WEST ORANGE, NJ–Prism Capital Partners has named Newmark Associates as exclusive agents for 475 Prospect Ave., a 38,000-square-foot, three-story class A asset. The building formerly served as part of prescription drug maker Organon USA's headquarters campus. Englewood, NJ-based Prism has renovated and retrofitted the building, built in 1984, and is repositioning it as a medical office building.

"Newmark Associates’ Healthcare Division focuses exclusively on the real estate requirements of doctors, surgical centers, laboratories and related professions,” says Eugene Diaz, principal of Prism Capital Partners. “Newmark’s familiarity with the key players in the healthcare arena makes them a perfect fit for this assignment."

Judith Tell Feldman and Nancy Glick of Whippany, NJ-based Newmark (not affiliated with Newmark Knight Frank) are heading the assignment. Current tenants at the building, which is approximately 60% leased, include Essex Specialized Surgical Institute, Omni Eyecare and Reproductive Medical Associates of New Jersey. Rents for medical offices in the area range from $15 per square foot to $26.50 per foot, according to LoopNet. The building is located on five acres at a four-way interchange of I-280.