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Available Space Boasts State-of-the-Art Mechanics with Ample, On-site Parking
WEST ORANGE, N.J., Feb. 24, 2021 – Prism Capital Partners has named Newmark Associates CRE as exclusive healthcare and medical office leasing agent for Edison Village in downtown West Orange. Prism’s redevelopment of Thomas Edison’s historic Invention Factory and Commerce Center encompasses 21 acres on Main Street.
To date, Prism has renovated and reconstructed Edison Village’s 100-year-old Edison Battery Factory and surrounding grounds to introduce Edison Lofts – with 334 luxury multifamily rental homes and supporting amenities, a 630-space parking structure and 18,400 square feet of street-level retail. Approximately 13,000 square feet of the retail space has been allocated for healthcare and medical office leasing, boasting state-of-the-art mechanics, high ceilings and ample parking designated for patients and staff.
“Prism understands the market and has created exceptional space for healthcare providers while more than generously addressing parking, which can be a challenge in downtown areas,” said Newmark’s Judith Tell Feldman, managing director, who leads the company’s healthcare division. Her talented team also includes Jeannette Melillo, sales associate.
Edison Village ultimately will incorporate additional housing options, including for-sale townhomes. “Edison Village offers a built-in, on-site projected population of approximately 1,000 and also is easily accessible from many other communities in the region,” Feldman said. “I anticipate this opportunity will be particularly attractive to larger providers of comprehensive primary care or specialized care.”
Prism’s Edwin Cohen, principal partner, cited Feldman’s strong working relationships with many of the region’s healthcare providers as key to the Newmark Associates appointment. “Judy knows how to get deals done,” he said. “We are pleased to have her lead our efforts to bring in-demand healthcare services to Edison Village. The end result will benefit our community’s residents as well as those who live and work in the surrounding area.”
Headquartered in Nutley, N.J., Prism Capital Partners is an award-winning real estate owner, operator and developer with a proven track record of creating value through select real estate investments and developments. Prism is among New Jersey’s most active and respected developers, focusing on adaptive re-use and repurposing excess corporate facilities and turn-of-the-century industrial buildings.
Newmark Associates CRE was one of the first companies in New Jersey – more than 16 years ago – to designate a healthcare and medical office leasing division due to the foresight of Suzanne Newmark, founder, president and CEO, who recognized the sector’s growing demand. Located in Cedar Knolls, N.J., Newmark celebrates more than 30 years in the commercial real estate industry.
For more information on healthcare and medical office leasing at Edison Village, please contact Feldman at (973) 884-4444, ext. 28, or firstname.lastname@example.org.
The balance of the development’s retail space – branded The Shoppes at Edison Village – is being marketed by RIPCO Real Estate.