MONTVALE—Mayor Michael Ghassali wrote residents on April 6 to say he was excited to inform them that Valley Health System has committed to occupy 60,000 square feet of a new medical building to be built on the far northwest side of North Market, next to exit 172 off the Garden State Parkway.
“Valley Health System’s mission is to serve the communities of northern New Jersey and southern New York with exceptional, world-class healthcare in a regional healthcare setting. Montvale’s convenient location and the existing presence of other world class medical doctors aligned perfectly with Valley Health System’s goals,” he said.
He noted, “It was only in 2015 when Mercedes-Benz decided to leave for Georgia. After they fully vacated the property in 2017, the future of about 30 prime acres was in question.”
Ghassali said, “I believe we are now on a good footing with a modern, mixed-use development and a strengthening reputation of being an exciting new medical hub. Montvale is well-positioned to compete with many other great towns for top world class medical and professional tenants.”
Ghassali said, “On behalf of the Montvale community, we welcome Valley Health System to town. Many thanks to the S. Hekemian Group for the diligent work they have done to acquire and maintain quality, long-term tenants, which benefits all of the Montvale community.”
Ghassali also forwarded a copy of a report from Real Estate NJ, which follows commercial deals of this type. The piece cited S.Hekemian Group in saying the project will create “a modern surgical center that allows the provider to continue expanding in Bergen County.”
The report said, “It will also be part of an 86,000-square-foot building that includes 26,000 square feet of ground-floor retail space, marking the latest addition to the former Mercedes-Benz campus off Exit 172 of the Garden State Parkway.”
Peter Hekemian, senior managing director of The S.Hekemian Group, says, “It’s a nice moment of validation that Valley Health System is excited to be part of the neighborhood experience we’re trying to create in North Market. They saw that joining one of the premier projects in northern Bergen County was a high-visibility opportunity for their brand, and they will be a big addition to what we’re building here.”
Real Estate NJ said the developer is eyeing a fall 2023 groundbreaking for the new building, “which follows last year’s opening of a 52,000-square-foot office building at 200 Market St. Elsewhere on the site, SHG is planning two residential buildings that will bring more than 300 units, joining other phases including the adjacent, Wegmans-anchored retail development known as the Shoppes at DePiero Farm.”