Member News — NAI Hanson’s Levering & DePaolera Help Medical Office Secure New Home in Newark
August 20th, 2018
NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announces it has represented Ampersand Health in securing a location to provide full primary medical services at the newly constructed Springfield Avenue Marketplace, located at 204-234 Springfield Avenue in Newark, N.J. NAI James E. Hanson’s W. Joshua Levering, SIOR, and Nicholas DePaolera represented Ampersand Health in the transaction. The landlord, Tucker Development, was represented internally by Jake Frantzman of Ripco Real Estate.
Based in Nashville, Tenn., Ampersand Health is a pioneer in addressing the needs for efficient, local and quality primary medical care in inner-city neighborhoods. Through their CityLife neighborhood clinics, Ampersand is able to deliver medical care to underserved areas and help create healthier communities. Their new location at the Springfield Avenue Marketplace will enable them to bring their CityLife concept to Newark and provide local residents of the city with enhanced access to high-quality healthcare services.
Springfield Avenue Marketplace is a recently completed five-building development anchored by a 70,000-square-foot ShopRite. The complex features include many noteworthy retailers and other support companies. The Springfield Avenue Marketplace is easily accessible within Newark’s University Heights neighborhood. Additionally, the property is adjacent to 24 Jones, a new 152-unit residential complex.
DePaolera noted, “Ampersand Health recognized the central location, mass transportation and population density of the surrounding community that made this central location an ideal spot for their first CityLife location in New Jersey”.
“With each passing day, Newark, N.J. continues to be an increasingly attractive spot for new businesses or, in this case, businesses looking to expand their operations into our state,” said Levering. “Newark’s growing populace coupled with both Rutgers and UMDNJ make it a highly attractive location. The new building allowed for a build-to-suit office that could include the many unique features for a new first-class medical installation. We were happy to work with both Ampersand and ownerships teams to successfully complete this transaction. I have brokered in Newark many-many years and am confident this new CityLife clinic brings an invaluable additional service to the growing city of Newark.”
“We’re excited to for Ampersand Health to join Springfield Avenue Marketplace and further diversify the tenant mix of the center while providing expanded access to critical health and wellness services to the Newark community,” added Frantzman.
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