EAST HANOVER, NJ—Community HealthcareAssociates acquired an 80,807-square-foot office buildingat 1 S. Ridgedale Ave. in East Hanover, NJ from globalpharmaceutical firm Novartis for $5 million.
Transwestern vice president LeslieMeril represented CHA, a Bloomfield,NJ-based company that specializes in the redevelopment andrevitalization of custom-built medical arts complexes and officesuites. The new owner plans to redevelop the property into askilled nursing and rehabilitation center.Novartis was represented in the transaction bySteven Schultz, executive managing director ofNewmark Knight Frank.
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