Cresa arranges disposition of three Rothman Orthopaedics leases

White Plains, NY Cresa managing principal Jonathan Marks and senior vice president Michael Doetsch have arranged the disposition of leases for Rothman Orthopaedics in three New York locations and their subsequent assignments, as part of a practice acquisition by NYU Langone Medical Associates.

The three clinic dispositions and assignments comprise:

• 645 Madison Ave. – 21,461 s/f with nine years remaining on the lease.

• 200 White Plains Rd., Tarrytown – 17,212 s/f with 12 years remaining on the lease.

• 450 Mamaroneck Ave., Harrison – 15,740 s/f with five-and-a-half years remaining on the lease.

“Cresa has worked with Rothman Orthopaedics to streamline their portfolio, reduce costs, and mitigate risks at each one of their 45-plus locations,” points out Marks, who is a managing principal and director of Cresa’s Medical Practice Group, based out of the New Jersey office. “We have negotiated and orchestrated multiple new orthopedic and physical therapy facilities, lease renewals, relocations, expansions, and clinic build-outs for many years. It was paramount we successfully negotiate the dispositions as part of a larger practice strategy.”

Adds Doetsch, “Rothman is a long-established Cresa client, and we are proud to participate in the ongoing growth of this respected practice, as well as addressing its disposition and lease assignment needs. Because of the remaining time on each of the leases, it was incumbent on us to negotiate the best outcomes for all parties, which we succeeded in providing.”

Since 2021, Doetsch and Marks have led the Rothman Real Estate portfolio, along with managing principal/project management James Pirot. Other local Cresa advisors also have been part of the team in multiple markets and have arranged leases for the new 80,257 s/f Rothman Orthopaedics headquarters in Philadelphia, PA, as well as the previous Philadelphia Eagles Training Facility in South Philadelphia, Orlando Magic Training Facility in Orlando, FL. In addition, the Cresa team has worked on locations for Rothman in Paramus, NJ; Montvale, NJ; Rutherford, NJ; King of Prussia, PA; South Philadelphia, PA; Newton, PA; Media, PA; and Lake Nona, FL.

Several of the clinics have additionally included construction build-outs overseen by Cresa’s Project Management division led by Pirot and Ron Zeccardi, senior vice president.

NYU Langone Medical Associates was represented by Cushman & Wakefield vice chairman Mark Mandell.