TSCPIX Blog

CHA acquires, plans to convert ex-Novartis office building in East Hanover

A developer has acquired an 81,000-square-foot office building in East Hanover, with plans to renovate the property and reposition it as a skilled nursing and rehabilitation center.

The firm, CHA Partners, acquired the building at 1 South Ridgedale Ave. for $5 million, real estate services firm Transwestern said. The seller was the multinational pharmaceutical company Novartis, which had used it for general office purposes.

It will be among the latest projects for CHA, a Bloomfield-based firm that specializes in the redevelopment and revitalization of custom-built medical arts complexes and office suites.

“Whether it’s in Paterson, Hammonton, Jersey City, or any other adaptive reuse project we have worked on, quality of patient care is first and foremost on our minds,” Bill Colgan, managing partner of CHA, said in a prepared statement. “Once completed, the residents who seek to improve their quality of life through the rehabilitative services to be offered in this dynamic and modern facility will see that every amenity is available to them.”

*Click Here to Read More*

Article from Real Estate NJ
By Joshua Burd

*TSCPIX thanks the Otteau Valuation Group for providing the links to these articles
RSS