NAI Hanson Negotiates Sale of 8,000-Square-Foot Medical Office Building in New Providence, N.J.
New Providence, N.J. (August 15, 2019) – NAI James E. Hanson announces it has negotiated the sale of an 8,064-square-foot medical office building at 1811 Springfield Avenue in New Providence, N.J. NAI James E. Hanson’s Andrew Kirshenbaum represented the buyer, See Clear Associates, LLC, in the transaction with the seller, Bussel Realty Corp.
1811 Springfield Avenue is a two-story medical office building boasting ideal highway accessibility. Located just minutes from Interstate 78 and the Garden State Parkway, as well as Routes 22 and 24, the building’s proximity to regional transportation arteries and ample parking make it an ideal space for a medical office user.
A rapidly growing full-service optometry practice, See Clear Associates, LLC features two convenient locations in Morristown and Summit. The practice had retained the brokerage services of NAI James E. Hanson to secure a new location that would allow them to remain in the Summit area, a location in which they have resided for over 40 years. Previously owned and operated by a retiring podiatrist, 1811 Springfield Avenue presented a unique opportunity for the practice. Following their acquisition of the building, See Clear Associates is planning a complete renovation of the space. Upon completion of the renovation, See Clear Associates will occupy the entire first floor and continue to lease the second floor to a variety of medical tenants.
“Although the large healthcare networks tend to generate most of the headlines, we are continuing to see strong demand particularly from smaller independent practitioners looking to find flexible and accessible spaces that allow them to continue to practice in a local area that is convenient to their loyal patient base,” said Kirshenbaum. “Working with a local brokerage firm has numerous benefits for these practices as our market knowledge and experience allows us to find opportunities in a hyperlocal, competitive market.”
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