NAI James E. Hanson negotiated a lease for 2,224 square feet of medical office space at 122 E. Ridgewood Ave. in Paramus, according to a Friday announcement from the brokerage.
NAI Hanson’s Team Lizzack-Horning, led by Darren Lizzack and Randy Horning, represented the landlord, E. 122 Ridgewood Avenue Co. LLC, in the transaction with the tenant, Paramus Dentist LLC.
Spanning 15,000 square feet, 122 E. Ridgewood Ave. offers modern, built-to-suit medical office space in a highly accessible location on the main thoroughfare between the Garden State Parkway and Route 17.
Additionally, the property’s location directly across the street from Valley Health System’s brand-new, state-of-the-art 910,000-square-foot, 372-bed hospital projected to be completed in 2023 places it within what will soon become one of Bergen County’s premier health care corridors.
“Ongoing supply chain woes, coupled with a 20% rise in construction costs over the last 18 months, have made it increasingly difficult to structure long-term leases that require costly buildouts, especially for practices in a startup phase,” Horning said. “However, our collaborative approach enables us to work closely with landlords and tenants like Paramus Dentist to craft leases that are mutually beneficial to both parties. We look forward to seeing Paramus Dentist open its new office and continuing to work closely with the northern New Jersey health care community to close deals in our complex market over the coming months.”