M id A tlantic Real Estate Journal — New Jersey — December 2023 — 3B
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Atkins Cos' MOB located at 405 Hurffville Cross Keys Rd. Three tenants expand at Washington Medical Arts
ASHINGTON TWP., NJ — Atkins Com- panies announced lease expansions with Rowan Medicine, Weisman Children’s and Jefferson Health at the Washington Medical Arts Building, a 70,000±-s/f medical office building located at 405 Hurffville Cross Keys Rd. in Washington Twp. Acquired by Atkins Compa- nies in early 2023, the Wash- ington Medical Arts Building is a two-story, class A medical office building located in the heart of Gloucester County, that is currently leased to a diverse mix of healthcare ten- ants. Upon the acquisition, At- kins Companies implemented a strategic leasing and capital improvement plan to enhance the building’s common areas, convert space of previously non-medical use to medical, as well as add 7,700 s/f of new leasable space. The capital improvement plan is sched- uled for completion in Spring of 2024. “The healthcare real estate market has not been immune to the economic headwinds slowing the broader commer- cial real estate industry,” said Cory Atkins , principal at Atkins Companies. “Despite a N
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Washington Medical Arts Building
tight market, regional health- care networks and special- ty groups have continued to search for strategic opportuni- ties to expand their footprints. We value our relationships with Rowan Medicine, Weis- man Children’s and Jefferson Health and look forward to con- tinuing to help them achieve their future growth goals.” The lease expansions and extensions will solidify each regional healthcare provider’s presence at the building and increase their delivery of care to the local community. Rowan Medicine, a multi-disciplinary healthcare services provider with 14 specialty areas, was previously occupying 7,800 s/f at the facility. Its new lease will more than double its total space to almost 18,000 s/f.
Weisman Children’s, a com- munity-based specialty health- care organization consisting of an acute rehabilitation hospi- tal, outpatient rehabilitation and medical day care centers, will now lease almost 11,000 s/f at the building. Jefferson Health utilizes the Washington Medical Arts Building as one of its outpa- tient rehabilitation locations featuring a range of physical therapy, occupational therapy and speech therapy services. Their expansion of 1,400 s/f brings the practice's total space to over 5,600 s/f. The building currently has 30,000 s/f of newly converted medical office space available that is adaptable to the needs of a wide range of healthcare users. MAREJ
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