26 — May 2025 — Healthcare — M id A tlantic Real Estate Journal
www.marej.com
H ealthcare CRO expands: 3rd building, +40% Newark, DE staff by 2027 QPS Holdings investing $16.6M, adding 135 jobs in Delaware
Marcus & Millichap brokers $2.5M sale of medical office
W
ILMINGTON, DE — A globally lead- ing clinical research
organization (CRO) has chosen to grow its Newark, DE, head- quarters with a $16.6 million laboratory and office expansion in Delaware Technology Park, where the company already is the largest tenant. QPS Holdings, LLC – a 30-year-old CRO specializing in bioanalysis and preclini- cal and clinical services – is renowned for its work support- ing large pharmaceutical and biotechnology companies in their research programs and drug-development efforts. In addition to its headquarters in Newark, it operates U.S. loca- tions in Florida and Missouri; European sites in Austria and The Netherlands; Asian facili- ties in China, India and Tai- wan; and a site in Australia. The company has experi- enced significant growth in recent years, particularly in its Newark-based transla- tional medicine division. It now requires larger research and development space as its growth is expected to acceler- ate even further. QPS currently occupies all of 3 Innovation Way and 90% of 1 Innovation Way in Delaware Technology Park. The compa- ny plans to lease an additional 55,515 s/f of space – including more than 15,000 s/f of lab space – in a new building at 6 Innovation Way. The company currently has 336 full-time em - ployees in Delaware and plans to add 135 new full-time posi - tions here by the end of 2027. QPS is a founding member Located at 336 Egg Harbor Rd. in Sewell, the new 15,000 s/f state-of the-art facility will nearly triple the size of the cur- rent practice including the num- ber of operatories and parking. Key in the project planning was the selection of local part- ners from the surrounding com- munities, including DeSimone Construction, Marathon Engineering and Bishop and Smith Architects . Says Dr. Kubikian, “For such a large- scale project, we had proposals from prominent regional com- panies but felt it important to
100 Lexington Rd.
based in South Jersey, and procured the buyer from the Philadelphia suburbs. John
SWEDESBORO, NJ — Marcus & Millichap an- nounced the sale of a 10,193 s/f
Horowitz is the firm’s broker of re- cord in New Jersey. Located at 100 Lexing- ton Rd., the fully occu- pied medical
medical office property in Swedesboro. The property sold for $2.5 million. “The medi- cal office sec - tor continues to demon-
Delaware Technology Park
of the Delaware Bioscience Association and has actively participated in numerous pro- grams and activities within the statewide biotech and phar- maceutical community, par- ticularly those in education and technology innovation. These include collaborating with the University of Delaware to recruit new graduates and establish internship programs. Delaware Prosperity Part- nership (DPP) has worked with QPS officials over the last year to explore locations and possibilities for the company’s growth. Today, DPP supported QPS’s request to the state Coun- cil for Development Finance for a Graduated Lab Space Grant of up to $1.1 million and a Jobs Performance Grant of $162,000 from the Delaware Strategic Fund. Distribution of these grant monies is dependent on the company meeting commit- ments as outlined to the CDF, which reviewed and approved QPS’s request. “This expansion project in
Delaware Technology Park, Newark, Delaware, is stra- tegically important to QPS’s businesses,” said Ben Hsu , chief administrative officer of QPS Holdings, LLC. “It will significantly expand QPS’s capacity to serve our clients in both Lab Services and Clinical Services globally.” About Delaware Prosperity Partnership Delaware Prosperity Part- nership is the nonprofit public/ private organization that leads DE’s statewide economic devel- opment efforts to attract, grow and retain businesses; build a stronger entrepreneurial and innovation ecosystem; and support private employers in identifying, recruiting and de- veloping talent. Collaborating with partners throughout the state since its creation in 2017, DPP has supported more than 75 location and expansion proj- ects that account for more than $3.5 billion in projected capital investment and almost 11,000 new and retained jobs. MAREJ
Mark Krantz
Derrick Dougherty
office property is anchored by Inspira Health, which is one of South Jersey’s largest and most respected Non-Profit Health Network. The 2008-built condo spans three medical special- ties—neurology, orthopedics and podiatry—and includes an additional tenant, Land O’ Frost. Positioned near a planned residential develop- ment and major highways, the property benefits from strong regional demographics and proximity to downtown Swedesboro, the NJ Tpke. and Philadelphia International Airport. MAREJ
strate remarkable stability, fueled by strong tenant reten- tion, aging demographics and growing demand for outpatient services,” said Mark Krantz , first vice president invest- ments. “Investors are increas- ingly drawn to health care assets for their consistent cash flow and resilience against broader market volatility.” Krantz and Derrick Dougherty , investment spe- cialists in Marcus & Mil- lichap’s Philadelphia office, had the listing to market the property on behalf of the seller, a private investor
Cushman & Wakefield | Thalhimer’s Capital Markets Group inks sale of MOB
(CHoR) for the first quarter (Q1) of 2025 through their Thalhimer Gives program, a companywide initiative fo- cused on community involve- ment and charitable giving. Thalhimer Gives efforts fo- cused on support of CHoR’s Children’s Tower, Richmond’s new home for pediatric inpa- tient, emergency, and trauma care, opened for patients and families on April 30, 2023. In a single year, more than 80,000 children receive care at CHoR, including 405,000+ outpatient visits and 28,000+ emergency room visits. Through Thalhimer Gives, associates actively engage in the community by donating financially, providing much- needed supplies, and giving generously of their time to local non-profit organizations. Richmond associates volun- teered at CHoR for three dif- ferent collection and delivery events: - Activity Kits Assembly
PRINCE GEORGE, VA — Cushman & Wakefield | Thalhimer’s Capital Markets Group has rep- resented the seller, Health Venture, LLC in the disposi- tion of 4700 Puddledock Rd. in Prince George. 4700 Puddledock Rd. is a 20,420 s/f class A medical office property located in the Waterside Medical Center in Prince George. The property is currently 100% leased to four tenants including Prime Care Family Practice, LabCorp, Vir- ginia Cardiology Associates, and Virginia ENT. Elliott Bay Capital Trust, out of Seattle Washington, acquired the asset on March 17, 2025, for $6.84 million ($335/s/f). The sale was completed by Catha- rine Spangler of Cushman & Wakefield | Thalhimer’s Capital Markets Group. In other news, Cushman & Wakefield | Thalhimer part - nered with Children’s Hospital Foundation to support chil- dren and families at Children’s Hospital of Richmond at VCU
SJ Perio breaks ground on new Sewell, New Jersey facility SEWELL, NJ — South Jersey Periodontics & Den- tal Implants (SJ Perio) an- nounced the groundbreaking of its new facility.
336 Egg Harbor Rd. in Sewell
support other local firms and stay true to our roots. Gloucester County has been extremely supportive of the practice over the past 16+ years and South Jersey is home. Bringing even better healthcare to the residents and more jobs to the region are driving us forward.”
This marks a milestone for the vision founder Daniel Kubikian, DMD embarked on in 2022. Already named a dental im- plant All-on-4 Center of Excel- lence by Nobel Biocare, SJ Perio will become the largest single periodontal and dental implant facility in the US. MAREJ
- Stock the Lounges - Book Drive MAREJ
Made with FlippingBook. PDF to flipbook with ease