NAI Hanson negotiates lease extension for Kessler

NAI James E. Hanson, a commercial real estate firm based in Parsippany and Teterboro, announced Tuesday it has negotiated a lease extension for Kessler Institute for Rehabilitation Inc. in Clifton.

The extension includes 5,511 square feet of medical office space located at 1135 Broad St.

Randy Horning and Darren Lizzack of NAI Hanson represented the landlord, First Equity Development Co. in the deal with the tenant, Kessler, represented by John Morrissey of Jackson Cross Partners.

The property is a three-story, 68,000-square-foot medical office building with high visibility from the southbound side of the Garden State Parkway at the intersection of Route 3, NAI Hanson said. It boasts a modern design with outdoor balconies, a granite facade and a naturally-lit atrium lobby.

The lease at 1135 Broad is one of more than 95 Kessler Rehabilitation Center locations in North Jersey.

“Three of the most important factors when it comes to site selection for medical office users boils down to an ideal location, strong area demographics and a great tenant mix,” Horning said. “While oftentimes medical users may need to prioritize or compromise on some of these aspects when securing medical office space, 1135 Broad Street delivers on all of these fronts while also featuring an elegant, modern design. We were pleased to assist First Equity Development Company in this transaction to help them negotiate an extension with a long-term, quality tenant.”

Financial terms were not disclosed.