1135 Broad St., Clifton, NJ (Source: CoStar)

CLIFTON, NJ—Commercial brokerage firm NAI James E. Hanson reports it has negotiated two medical office lease deals totaling 26,945 square feet at First Equity Development's 1135 Broad St. complex here.

The largest transaction was the 21,895-square-foot lease extension with St. Joseph's Hospital at the 68,000-square-foot office building. Dentistry for Children also recently signed a new lease for 5,050 square feet at the complex.

NAI James E. Hanson's Randy Horning, MSRE and Darren Lizzack, MSRE represented the landlord, First Equity Development Company, in the transactions. St. Joseph's Hospital was represented by Peter Rasmusson, Joe Tormen and Michael Willis of Lee & Associates and Dentistry for Children was represented by Joe Lombardi of Masserano Real Estate and Consulting, Inc. in its deal at the complex.

Previously based in Bloomfield, NJ, Dentistry for Children had outgrown its existing space and was looking to move into a larger office with increased parking and a more modern feel, NAI James E. Hanson states.

"Today's medical office tenants are increasingly recognizing the benefits of locating their practices in highly visible locations featuring other complimentary practices to add convenience for their patients," Lizzack says. "This has led to a shift away from hospital-centric healthcare clusters as medical office users search for highly visible locations directly in the communities they serve."

135 Broad St. is a three-story office building that is undergoing substantial capital improvements to be completed by spring of 2020 including the installation of a "Grab and Go/Smart Cafe" on the first floor, renovation of common area hallways, and repaving of the parking lot. The building's current tenant roster includes: St. Joseph's University Medical Center, Kessler Rehabilitation Center, Tenafly Pediatrics, and Children's Specialized Hospital.

Instant Insights /

Two Medical Leases Totaling Nearly 27,000 SF Signed in Clifton

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