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The Hampshire Companies Pyramid Property Partners and Triad Development...

Plans were revealed today for the development of a four-building, 100,000 square foot medical / office condominium complex on a 12-acre parcel of land less than 1/8 mile from CentraState Medical Center in Freehold, New Jersey. The development, named Pond View Professional Park, will be developed by a joint venture partnership that includes The Hampshire Companies of Morristown, N.J., Pyramid Property Partners, LLC of Woodbridge, N.J., and Triad Development Company of Eatontown, New Jersey.



Pond View Professional Park will consist of four 25,000 square foot buildings, each distinguished by color and form, in a courtyard-type setting. The location of Pond View Professional Park, in close proximity to the CentraState Medical Center in Freehold, makes it an ideal location for doctors's offices, diagnostic facilities, specialty care and other business and medical uses.



In addition to the opportunity to locate their practices within walking distance to the medical center, Pond View Professional Park offers physicians, medical professionals and businesses superior technological and building advantages along with the benefits associated with ownership.



The medical office ownership trend has gained popularity in recent years, noted Norman A. Feinstein, Executive Vice President of The Hampshire Companies. The unparalleled proximity to CentraState, as well as the superior building features of Pond View Professional Park will be of tremendous value to physicians and other business purchasers. Many medical office facilities on the market today are aging, technologically obsolete and unable to meet the needs of today'ss high-tech medical practice. Pond View Professional Park, which was planned, designed and will be built to support the physicians who will locate their offices there and the businesses that can benefit from proximity to the Medical Center, represents today'ss standard in medical / office facilities.



Commented Steven Schultz, Partner in Pyramid Property Partners, We are extremely excited about this development, and about the joint venture partnership that has come together with the vision to develop this superior medical / professional complex in this prime location. The joint strengths that each of the partners brings to this endeavor will yield tremendous benefit to purchasers, and will make Pond View Professional Park an asset to the Medical Center neighborhood and to Freehold Township.



Pond View Professional Park will provide an environment where healthcare providers of all types can collaborate to improve the health and quality of life in the community, noted David Portman, President of Triad Development. The Center is also designed to aesthetically assimilate within this historically-significant area.



The architect of Pond View Professional Park, Wayne Lerman, AIA of WML Architects, P.A. in West Long Branch, sought and obtained approval for his design from the Freehold Historical Commission by incorporating classical shapes and materials into a contemporary building design.



Lerman stated, By utilizing materials like brick, stucco and tile combined with classical shapes such as arches, we were able to create a contemporary design for four similar but distinctive buildings, and to harmonize them with the historical character of the neighborhood.



The construction of the Pond View Professional Park reflects a growing trend as the medical industry in New Jersey continues to decentralize. According to many real estate professionals, more doctors and medical groups are relocating from within hospitals and out of urban centers to be closer to patients in the suburbs. In addition, ownership makes sense for doctors: on top of tax benefits and investment returns, the equity position often represents future retirement savings.The Construction Manager for Pond View Professional Park is I.M. Mack of Totowa, New Jersey.



The joint venture partnership has hired The Schultz Organization of Woodbridge, N.J. as exclusive sales agent for the units at Pond View Professional Park.The Schultz Organization provides a full range of real estate services to many of the region and nation'ss leading property owners and tenants. Interested parties should contact Julie F. Nachamkin, Managing Director or Michael Staskiewicz, Associate at The Schultz Organization, exclusive sales agent for Pond View Professional Park, at (732) 855-0001.

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