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Valley Hospital buying up string of properties near its Ridgewood site
Friday, February 14, 2014 Last updated: Saturday February 15, 2014, 12:40 AM
BY LINDA MOSS AND BARBARA WILLIAMS
STAFF WRITERS
The Record
As The Valley Hospital has struggled for years to expand its campus in Ridgewood, it has been quietly buying real estate in Bergen County, assembling a portfolio that includes a string of properties on North Maple Avenue in Ridgewood and the building that houses the New Jersey Children’s Museum in Paramus.
Over the past two years, the hospital, in some cases through holding companies, has spent at least $54 million to acquire roughly a half-dozen sites in the village and neighboring Paramus as potential future locations for doctors’ offices, along with outpatient and other services that would be moved from its main campus. Some of these newly acquired properties are already operating as off-site hospital facilities.
But the hospital’s plans for some of its other new properties remain unclear, and Valley’s real estate shopping doesn’t appear to be over. Recently, it has been in talks to purchase buildings that the global parcel deliverer UPS will be vacating on Winters Avenue in Paramus, as reported by The Record. If that deal closes, it would add another property to a medical-services cluster that the hospital has been creating in Paramus, near the Fashion Center mall.
– See more at: https://www.northjersey.com/news/valley_paramus_ford_ridgewood_hospital_ups_real_estate.html#sthash.ETbswYzJ.dpuf