Atkins Cos. has secured lease expansions with three tenants at its Washington Medical Arts Building.
On Nov. 29, the West Orange-based multigenerational commercial real estate development, investment and property management firm announced agreements with Rowan Medicine, Weisman Children’s and Jefferson Health at the approximately 70,000-square-foot medical office building located at 405 Hurffville Cross Keys Road in Washington Township.
According to Atkins, the commitments solidify each providers’ presence at the building as well as increase their ability to deliver care in the community.
Multidisciplinary health care services provider Rowan Medicine more than doubled its footprint at Washington Medical Arts Building from 7,800 square feet to nearly 18,000 square feet.
Weisman Children’s, a community-based specialty health care organization with five locations in New Jersey, will now lease almost 11,000 square feet at the site.
Jefferson Health, which uses the property as one of its outpatient rehabilitation locations, expanded by 1,400 square feet, bringing the practice’s total space to more than 5,600 square feet.
Strategically situated between Routes 42, 55 and 322 – and directly across from the Jefferson Washington Township Hospital campus – in Gloucester County, Washington Medical Arts Building provides easy access for patients and visitors.
Atkins acquired the two-story, Class A medical office building earlier this year for $14 million in a deal arranged by Avison Young. Following the purchase, the company said it implemented a strategic leasing and capital improvement plan. That work, scheduled for completion in spring 2024, includes enhancing common areas; converting previously non-medical space to that use; and adding 7,700 square feet of new, leasable area.
“The health care real estate market has not been immune to the economic headwinds slowing the broader commercial real estate industry,” commented Cory Atkins, principal at Atkins Cos. “Despite a tight market, regional health care networks and specialty groups have continued to search for strategic opportunities to expand their footprints. We value our relationships with Rowan Medicine, Weisman Children’s and Jefferson Health and look forward to continuing to help them achieve their future growth goals.”
Washington Medical Arts Building currently has 30,000 square feet of newly converted, and adaptable, medical office space available, according to Atkins. For more information, contact Avison Young Principal Scott Martin.
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Author: Jessica Perry