C&W to market Totowa office redevelopment

By Emily Bader
Totowa | Mar 19, 2018 at 10:52 am

The redevelopment of a former call center in Totowa will result in a new 113,000-square-foot, Class A commercial property to the market.

Cushman & Wakefield has been named the leasing agent for the new building at 515 Union Blvd.

Frank Truesdell, Christian Politan and Adam Matloff of Cushman & Wakefield are heading the assignment on behalf of the property owner, Totowa Investment Group LLC. They plan to offer it as a setting for both traditional office spaces and medical service use.

“Our client has completed interior demolition of this well-located building and is now in the process of re-roofing and re-skinning the structure,” Truesdell said. “Union 515 is essentially a white-box opportunity suited to a variety of uses. This particular neighborhood has long been a draw for office users across multiple industries. It is easily accessible from points throughout Passaic, Morris and Essex counties — a region known for its deep labor pool — and is surrounded by a multitude of local amenities.

“Currently, the local market is under-served for medical office buildings — at a time of high demand among healthcare services providers. 515 Union Blvd. is particularly well suited to serve this niche. Surrounding hospitals and medical centers include St. Joseph’s Regional Medical Center, Valley Hospital, Kindred Hospital and St. Barnabas.”

Slated for completion later this year, the property is within close proximity to Interstate 80, and Route 46 and 23.

 

Emily Bader | ebader@roi-nj.com | emilybader