There are many recent new developments around New Jersey and medical offices are taking advantage of still-free space in these centers. For instance, a recent company press release highlighted a 51,570 square foot fitness and wellness center that is being designed in Scotch Plains by a joint venture between Fitness and Wellness Professional Services and Robert Wood Johnson University Hospital. And down in Plainsboro, a 50,000 square foot fitness and wellness center is being developed through a joint venture between the University Medical Center of Princeton and the same fitness service provider.

Lanyard feels that leasing medical office space in shopping centers demonstrates the logical evolution of a changing market. He feels landlords are being smart in taking advantage of the situation and this is not merely a blip on the commercial real estate radar. “I think this is a trend you’re going to see across the country – that landlords are becoming more flexible in efforts to lease vacant spaces.,” he said. “The best way to describe it is that shopping center space continues to be challenged and with so many national or regional tenants not expanding heavily in New Jersey space, landlords are looking to other uses to fill these vacancies.”