A West Orange property is being converted into a Class A medical facility, with Avison Young handed the repositioning assignment, the real estate firm said Monday.
The 70,000-square-foot property at 769 Northfield Ave., owned by Altera Fund Advisors, will be renamed Essex Medical Center.
Avison Young will oversee construction and project management, property management and leasing. A team led by Jeffrey Heller, principal and managing director, will include support from Gabriel Sasso, principal and vice president, on project and construction management; Steven Geltzeiler, senior vice president, overseeing leasing; and Dennis Sherry, senior portfolio manager, directing property management.
“We have a longstanding relationship with Altera Fund Advisors and look forward to working together throughout each phase of 769 Northfield Ave.’s conversion from a Class C building into a top-of-the-line, Class A medical facility that will serve the northern New Jersey market,” Heller said in a prepared statement. “Medical providers have been among the more resilient tenant categories throughout the pandemic, which is why we are confident that the conversion into a Class A medical facility will bode well for ownership from an investment standpoint.”
The repositioning project will begin in the fourth quarter and be completed in late 2022, Avison Young said.
Altera is based in Dallas.