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2016 HREI Insights Awards Winner: Best Renovated/Repurposed

The Clara Maass Medical Center (CMMC) MOBs consist of three newly renovated buildings totaling 128,006 square feet on the CMMC campus in Belleville, N.J. Photo courtesy of Rendina Healthcare Real Estate

N.J. renovation raises satisfaction

Rendina financed, developed, leases, owns and manages three-building complex

Facility name: Clara Maass Medical Center Medical Office Buildings
Address, City, State: 36 and 50 Newark Ave. and 5 Franklin Ave., Belleville, N.J.
Client: RWJBarnabas Health; multi-tenant, multi-specialty
Product type: MOB
Number of stories: Three (36 Newark), four (50 Newark) and five (5 Franklin)
Square footage: 128,006
Site acreage: 22.032
Parking: 565 surface spaces
Construction start date: January 2015
Construction complete date: Sept. 2016
Cost: $16,577,198 (acquisition) and $2.5 million capital expenditures
Owner: Rendina Healthcare Real Estate, Jupiter, Fla.
Major users/tenants: Orthopedics, cardiology, oncology, OB/GYN, imaging, primary care, etc.
Developer: Rendina
Architect: Buckl Architects
Contractor: Hudson Inc.
Lender: Capital One
Broker/leasing agent, property manager and asset manager: Rendina

Clara Maass Medical Center (CMMC) needed to improve the condition of three medical office buildings (MOBs) on its campus in Belleville, N.J., to increase physician-tenants’ overall satisfaction. But rather than tackling the renovation job itself, CMMC hired experienced healthcare real estate firm Rendina Healthcare Real Estate to provide financing and manage the renovation.

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