FirstService Williams Arranges Medical Condo Buy

WEST ORANGE, NJ-The New Jersey office of FirstService Williams has arranged for the sale and purchase of a 22,524-square-foot medical office condominium interest at 375 Mt. Pleasant Ave. here.

New Jersey Cardiology Associates picked up the space from seller 375 Mt. Pleasant Ave. LLC, a joint venture of Paragon Realty Group and the Hampshire Cos. FirstService Williams represented both parties in the transaction but would not disclose financial terms.

The building owner is currently redeveloping the 11-acre, former Organon headquarters campus, into a 106,000-square-foot medical office facility. As the building’s first occupant, NJCA will use the space for its cardiology practice.

“New Jersey Cardiology Associates recognized the developer’s vision to create a top-tier facility for medical practices,” says Frank J. Gunsberg, managing director, FirstService Williams, who arranged the transaction. “A highly regarded practice such as NJCA will benefit from the building’s modern design and amenities such as garage parking for doctors and senior staff, as well as its convenience for both patients and employees,” he says, adding, “the fact that the property is zoned ‘hospital’ makes this a natural for all medical uses.”