Avison Young Completes Award-Winning MOB in New Jersey
- Feb 14, 2020
Avison Young has completed the construction of 311 Bay Ave., a 45,000-square-foot, Class A medical office building in Glen Ridge, N.J. The company worked on behalf of The Hampshire Cos., which received a $10.7 million construction loan funded by M&T Bank for the project, Yardi Matrix data shows.
The construction team was led by Principal & Vice President of Construction Management Gabe Sasso, Senior Project Manager Andy Smith and Director Tony Bienert. NK Architects provided the design plans, while Newmark Knight Frank acted as the owner’s representative.
Construction on the three-story asset started last September and included the demolition of the existing buildings on the site. Last year, the property received the Urban Land Institute Northern New Jersey’s 2019 Excellence Award in the Healthcare/Medical category.
Located on 4 acres adjacent to Mountainside Medical Center, the asset offers easy access to major thoroughfares including Garden State Parkway and Route 280. Public transportation is provided by the nearby Bay Street and Walnut Street stations.
Earlier this month, Avison Young negotiated a major lease expansion in the area for Prologis.