M id A tlantic Real Estate Journal — New Jersey/Pennsylvania — May 21 - June 17, 2021 — 15B


N ew J ersey /P ennsylvania By Darren Lizzack and Randy Horning, NAI Hanson Northern & Central NJ 1Q 2021 Report


and control their health data. Data transfer will also become easier between health tech developers, payors, and provid- ers. In November 2020, Google launched a healthcare interop- erability readiness program; Epic recorded 221 million+ patient records shared, a 40% YOY increase. Hospitals and health systems nationwide are embracing digital transforma- tion and transitioning to cloud platforms, many in collabora- tion with Amazon, Google, and Microsoft. These tech giants are hosting EHRs and information continued on page 16B

he COVID-19 pandemic stretched healthcare to the breaking point. But

It doesn’t require voice com- mand prompts to listen and understand the context of 1Q2021

while the in- dustry bent, it didn’t break. The pandemic did, however, expose some very har sh realities, in- cluding the heal thcare

patient-phy- sician con- versations. EHRs will also see con- t i nued ad - vances in in- teroperabil- ity and stan- dardization.

Bergen County  404 Medical Buildings  5,764,299 SF RBA  $25.01 PSF Base Rent

 2,813 Medical Buildings  42,899,025 SF RBA  $20.37 PSF Base Rent

Northern New Jersey Average Asking Rate vs. Vacant Available Rate

10.0% 10.5% 11.0% 11.5% 12.0% 12.5% 13.0% 13.5%

$19.00 $19.20 $19.40 $19.60 $19.80 $20.00 $20.20 $20.40 $20.60 $20.80 $21.00

Darren Lizzack Randy Horning

system’s older technologies and siloed data systems. Even now, the public health system still relies more heavily on faxed forms and manual entry than digital automation. Improving Public Health Infrastructure The US has tried (and failed) for 15 years to build a system that facilitates easy data shar- ing and access — critical during a health crisis, for example. Dr. Deborah Bix, of the coro- navirus task force said recently that it’s more difficult to ac- cess COVID-19 data from US healthcare providers than to get AIDS data from African clinics. And yet electronic health records (EHR) technology has been used by providers for more than a decade. The infrastructure exists to greatly improve access to critical data, conduct symptom surveillance via artificial intelligence (AI) and machine learning (ML), and link EHR across systems and states. 2021 and beyond will include important discussions about overhauling the CDC’s data collection methods and sys- tems to track disease spread. Modernizing this — and other healthcare systems nation- wide — will improve overall interoperability and provide yet another tool for healthcare professionals and researchers to respond to: • Foodborne illnesses • Seasonal illnesses like influenza • COVID-19 and other dis - ease outbreaks Advancing EHR It won’t be long before digi- tal voice assistants become commonplace in hospitals and patient rooms. EHR vendors Epic and Cerner both have plans to integrate Nuance’s virtual assistant into their software; Epic has its own am- bient voice tech, “Hey Epic!” In 2020, Saykara, an AI startup, launched a new voice assistant that can operate autonomously and ambiently.

The pandemic promptedHealth and Human Services to finalize its interoperability rules so that patients can use smartphone apps to more easily access

Office Base Rent Overall

Vacant Available Percent % Total




18,000 SF | $12,700,000 355 Madison Avenue, Morristown Buyer: Urban Renewal Seller: NYC Skyline Realty LLC 23,812SF | $1,800,000 64 Mountainview Blvd, Wayne Buyer: Tiger Supplies Inc Seller: McHutchison, Inc.

21,386 SF (3 leases) | 1225 McBride Avenue, Woodland Park

3,741 SF | 23-00 Route 208, Fair Lawn*

2,500 SF | 17-15 Maple Avenue, Fair Lawn*

1,500 SF | 195 Fairfield Avenue, West Caldwell

*NAI Hanson Transaction

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NAI James E. Hanson negotiates lease to bring addiction treatment center to Fair Lawn, N.J. NAI James E. Hanson represented the Landlord

Walmart and Sam’s Club roll out vaccines for those 65 and older

Hackensack Meridian, saying it would drive up consumer prices

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Brokerage Services Property Management Financing Healthcare Logistics Corporate Services Government Services Tenant Representation Cold Storage Investment Services

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All information comes from sources deemed reliable from NAI James E. Hanson.

St. Joseph’s Hospital 22,000 SF | Clifton, NJ Skin and Laser 7,100 SF | Ramsey, NJ Eye Care Associates of NJ 5,500 SF | Glen Rock, NJ Dentistry for Children 5,050 SF | Clifton, NJ Medical Deals Recent

NJ Ofces: Teterboro | Parsippany | naihanson.com | Member of NAI Global with 300+ Ofces Worldwide |


The information contained herein has been obtained from sources considered to be reliable, but no guarantee of its accuracy is made by NAI James E. Hanson

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