JLL recently announced it arranged two new medial office leases at 160 Summit Ave., a 32,000-square-foot office building situated at the heart of a growing medical hub in Montvale.
The asset is a two-story building acquired by locally based Montvale Real Estate Ventures LLC, in September 2021, in a transaction also arranged by JLL. The new ownership, which operates multiple Montvale medical locations, launched an extensive renovation of the property and retained JLL as exclusive leasing agent.
The renovation will include upgrades to all common areas and restrooms, ADA accessibility, landscaping and high visibility signage. The improvements and concierge service management will establish the property as a prominent, standalone location.
In the first new lease since the acquisition, Refuah Health Center Inc., a multispecialty medical group with several locations in New York’s Rockland and Orange counties, will open its first New Jersey location at 160 Summit Ave. Refuah signed a 10-year lease for 4,500 square feet on the second floor of the property. Also, Empowered Pelvic Health LLC, which provides expert care in pelvic floor dysfunction, postpartum rehabilitation and orthopedics, signed a 10-year lease for approximately 2,000 square feet on the second floor.
JLL Executive Managing Director Frank Recine represented the landlord in the transactions. Refuah Health Center was represented by Diana Kadan of Keller Williams Hudson Valley.
“We are delighted to welcome these two new tenants to 160 Summit Ave. as ownership continues to move forward with its goal of creating an environment where tenants can thrive,” Recine said. “The property is ideally located minutes from the Garden State Parkway and the New York State Thruway and part of an exciting new medical hub that is attracting leading health care providers from across the region. Combined with hands-on local management, the property is well-positioned to attract tenants seeking highly accessible suburban office space with a focus on medical services.”
160 Summit Ave. is just west of North Market and the Shoppes at DePiero Farm, a nearly 60-acre redevelopment of the former Mercedes headquarters complex that will include 308 apartments, 40,500 square feet of boutique office space and 94,500 square feet of retail space.