S hopping C enters N ew J ersey /P en sylvania

M id A tlantic Real Estate Journal — New Jersey/Pennsylvania — Section B


Luxury apartment community nowavailable for lease at The Shoppes at Renaissance Square RD Management & Canoe Brook Development unveils Inwood At Renaissance Square in Evesham


Square. This luxury rental community will provide Eve- sham and its neighbors with the most sophisticated apart- ments and upscale lifestyle and amenities in the market- place,” said Jack Tycher , partner at Canoe Brook De- velopment. The Shoppes and Inwood at Renaissance Square encom- pass residential luxury apart- ments, retail, medical, office, two restaurant pads, and commercial space. The por- tion of the facility that faces Rte.70 will be converted into an open space and park com- plete with new jogging paths, walkways, dog run, children’s playground, and a pond. Ten- ants include Virtua Medical Group, TD Bank, Children of America, Evesham Mortgage, Pink Petal Mani Pedi, Dunkin’ Donuts, and Keller Williams Real Estate. Inwood at Renaissance Square will be the first of seven luxury apartment com- munities in RDManagement’s multifamily portfolio to come online. MAREJ "Upon taking this asset to market, the surgery center ten- ant had less than seven years of lease term remaining. Prior to closing, Cushman & Wakefield was able to consult on the nego- tiation of a brand new 15-year lease. This successful outcome is a testament to the collabora- tion shown by all parties to the transaction including buyer, seller, Surgical Care Affiliates and Lehigh Valley Health Net- work," said Niedergang. "This simultaneous lease negotiation increased seller proceeds upon sale and secured a long-term tenant for the buyer." Lollio added, "Credit is due to all parties involved for com- pleting this transaction during these turbulent and unparal- leled times. The outcome is a result of the good-faith negotia- tions and persistence shown by the buyer, seller, lender and tenants." MAREJ

convenience all in one place.” The Inwood at Renaissance Square offers residents spa- cious apartments with custom cabinetry, quartz countertops in all kitchens and bathrooms, stainless appliances including gas-cooking slide-in range, laminate flooring throughout all the living areas and bed- rooms, an abundance of in- unit storage space, designer tiles in the bathrooms and kitchen backsplash, and bal- conies/patios in select units. Monthly rent starts at $1,575 for one-bedroom apartments and $2,050 for two-bedroom apartments. The property also includes over 10,000 s/f of indoor amenities including a club room, party room, private conference rooms and work- space, fitness center with on- demand fitness and spin bikes, golf simulator, kids’ playroom, dog washroom, and gaming areas. The outdoor resort-style amenity deck includes a pool, living and dining area with grills, TVs, and a fireplace. “We are thrilled to introduce the Inwood at Renaissance

VESHAM, NJ — RD Management LLC , one of the nat i on ’ s

© Melillo + Bauer Associates, Inc.

largest pri- vately held real - estate development a n d ma n - agement or- ganizations, and Canoe Brook De- velopment ,

Richard Birdoff

the new development platform of the founding partners of Roseland Property Compa- ny, announced the commence- ment of leasing at Inwood at HI-LIGHTS AUGUST 14, 2020 NAI HANSON INK SALE OF 119,592 S/F IND. BUILDING IN TOTOWA, NJ

Inwood at Renaissance Square

ment as the company continues to diversify its portfolio. “By adding a multifamily component to our traditional retail shopping centers, we cre- ate a win-win for all parties in- volved and the development as a whole,” said Richard Bird- off , principal and president of RD Management. “With its central location, modern finishes, and state-of-the-art amenities, Inwood at Renais- sance Square will bring an unmatched living experience to the center where renters can enjoy comfortability and

Renaissance Square, a 338- unit luxury multifamily com- munity in Evesham. Inwood at Renaissance Square will be managed by RHO Residen- tial . Situated on Rte. 70 at the intersection of N. Locust Ave., it’s the perfect location for rent- ers looking to settle in a walk- able, live-work-play environ- ment. The brand-new apart- ment community is part of RD Management’s mixed-use community that also includes The Shoppes at Renaissance Square, a 127,926 s/f mixed-use center undergoing redevelop- STROUDSBURG, PA — Cushman & Wakefield an- nounced that a multi-market healthcare investment sales team has closed the $15.2 mil- lion sale of Pocono Ambulatory Surgical Center and Medical Building, a 37,976 s/f medical office building at 1 Storm St. in Stroudsburg. Cushman & Wakef ield' s Scott Niedergang and Gino Lollio in Chicago and Shane Funston in Philadelphia rep- resented the seller, a partner- ship of over 25 physicians that both owned and practiced out of the buildings. The buyer, IRA Capital, was also sourced by Cushman & Wakefield. Pocono Ambulatory Surgery Center (PASC) and Medical Office Building consists of a 17,600 s/f ambulatory surgery center and an attached 20,736 s/f medical building that in- cludes an additional surgery

Niedergang, Lollio & Funston of Cushman and Wakefield facilitate $15.2M sale of medical build ing





15-BC B

Pocono Ambulatory Surgical Center and Medical Building


center. PASC occupies 100% of the 17,600 s/f property and 73% of the 20,736 s/f medical building. The remaining 15% is leased to Pocono Medical Center, a subsidiary of Lehigh Valley Health Network, one of the region's leading healthcare providers. The facility offers procedures including gastro- intestinal, gynecology, neuro- logic, ophthalmology, otolar-

yngology, oral, orthopedic, pain management, plastic, podiatric, spine, urology, colon-rectal, gastroenterology, pediatrics and lithotripsy. The lease guarantor, Pocono Ambulatory Surgery Center, LP, is a partnership between Surgical Care Affiliates (SCA), the physicians performing procedures at the center and Pocono Medical Center. S



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