CASE STUDY HIGHLIGHTS
- Year Completed: 2023
- Size: 23,000 SF
- Client: RWJBarnabas Health
Unlocking Access Through Expert Brokerage in Healthcare Real Estate
RWJBarnabas Health sought to establish its first multispecialty outpatient hub in Hoboken, New Jersey, a dense one-square-mile urban market historically served by a single hospital system. Rendina was engaged to identify, secure, and deliver a turnkey medical facility of at least 20,000 square feet. The effort resulted in a 23,000 square foot facility at 59 Newark Street that now houses over 40 primary and specialty care providers, full imaging services, laboratory services, and physical therapy. The Hoboken Hub opened in late 2023 and has quickly become a vital piece of RWJBarnabas Health’s ambulatory strategy in Hudson County.
THE CHALLENGE
RWJBarnabas Health needed to establish a new ambulatory footprint in Hoboken to support outpatient growth and improve access to care. The market was competitive, with limited inventory that could meet the size and operational needs of the system. The system turned to Rendina to identify, evaluate, and secure a location that could meet both clinical and operational goals.
- Identify and secure a de novo site of at least 20,000 square feet in a constrained urban market
- Navigate a highly competitive leasing environment with limited availability of large, contiguous medical space
- Ensure proximity to public transit and accessibility for a diverse patient population
- Balance RWJBarnabas Health’s programmatic needs with the limitations of available commercial space
- Execute lease negotiations on behalf of the system and manage relationship with private landlord
Rendina’s Solution
Rendina led every phase of the site selection and leasing process, serving as a trusted real estate advisor to RWJBarnabas Health. Our team identified qualified sites, negotiated lease terms, and facilitated internal alignment to secure a location that met both short- and long-term strategic goals.
- Provided tenant representation throughout the transaction
- Evaluated multiple properties and performed comparative site analysis
- Negotiated favorable lease terms that provided financial and operational flexibility
- Facilitated coordination between the health system, landlord, and legal counsel
- Supported due diligence, approvals, and lease execution
Results
The Hoboken Hub now serves as a key access point for outpatient services in Hudson County and represents a significant step in RWJBarnabas Health’s regional expansion strategy. The new location positions the system for continued growth in one of New Jersey’s most densely populated urban markets.
- Secured more than 20,000 square feet of medical office space in a highly visible location
- Expanded RWJBarnabas Health’s presence in an underserved but strategic market
- Created a scalable platform for outpatient growth and future service integration
- Strengthened the system’s competitive position in the Hoboken community
