Washington TWP., NJ — Atkins Companies 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 Companies in early 2023, the Washington 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 tenants. Upon the acquisition, Atkins 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 scheduled for completion in Spring of 2024.
“The healthcare real estate market has not been immune to the economic headwinds slowing the broader commercial real estate industry,” said Cory Atkins, principal at Atkins Companies. “Despite a tight market, regional healthcare networks and specialty groups have continued to search for strategic opportunities to expand their footprints. We value our relationships with Rowan Medicine, Weisman Children’s and Jefferson Health and look forward to continuing 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 community-based specialty healthcare organization consisting of an acute rehabilitation hospital, 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 outpatient 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.