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State-of-the-Art Medical Office Condos at Mount Pleasant Medical Continue to Thrive After Sale to Associates in Obstetrics, Gynecology and Infertility, LLC

Recently Redeveloped, State-of-the-Art Medical Facility is a Joint Venture of The Hampshire Companies and Paragon Realty
West Orange, N.J.

The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2.5 billion, together with joint venture partner, Paragon Realty, have announced the sale of a 6,706-square-foot, state-of-the-art medical office condo located within Mount Pleasant Medical. The medical office condo is within the recently redeveloped, Class-A medical facility located at 375 Mount Pleasant Avenue in West Orange, N.J. The sale was to Associates in Obstetrics, Gynecology and Infertility, LLC, a leading OBGYN practice. They will join New Jersey Cardiology Associates, Urology Group of New Jersey, Muscio Pain Management, a new surgical center, and Total Renal Care, a division of DaVita Dialysis.

Since The Hampshire Companies completed the total transformation of the medical facility, they have seen keen interest from the medical community. A large part of Mount Pleasant Medical’s appeal is owed to its redevelopment to meet stringent hospital zoning restrictions with numerous amenities for medical users, including covered parking, multiple at-grade entries, high ceilings, heavy floor loads, high-efficiency individual HVAC systems for each suite, and direct utility metering. The property features a new curtain wall and brick façade, a new atrium lobby and common areas.

The 106,000-square-foot facility is situated on 11 professionally landscaped acres and is conveniently located a half mile from I-280 at Prospect Avenue and is within walking distance to the Essex Green Shopping Center. The building is close to nearby area hospitals including Saint Barnabas Medical Center, Newark Beth Israel, East Orange General Hospital, St. Michael’s Medical Center and Mountainside Hospital. “The space was designed to meet our exact needs, and Jeff Bloom of Edward J. Development did a beautiful job, which our patients have already noticed and complimented. We’re extremely happy to have a convenient, new space in which we can continue to provide our patients with high quality care,” said Alice Ruiz, MD, Principal of Associates in Obstetrics, Gynecology and Infertility, LLC.

"We saw the demand for medical office space in a convenient location with amenities tailored specifically to today’s physicians’ needs," said Todd Anderson, a Principal of The Hampshire Companies. "After extensive interior and exterior upgrades, Mount Pleasant Medical has become the model medical office condominium for physicians in Essex County."

With a substantial percentage of the condos already sold, the remaining space includes office suites that offer magnificent views and the convenience of entrance level parking just outside the condo’s door. Units as small as 1,000 square feet are available. Colliers International NJ is actively marketing the building with Frank Gunsberg as the exclusive broker. For more information on the property or its available space, please call 973-299-3000.

About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at HampshireRE.com.

Tiffany Miller
R&J Public Relations