KBS Brokers 51,011 SF in new leases at Class A Office Plaza in Northern New Jersey

Woodbridge Corporate Plaza

ISELIN, NJ – KBS, one of the largest investors in premier commercial real estate in the nation, announced  the signing of 51,011 square-feet of commercial leases at Woodbridge Corporate Plaza in Northern New Jersey real estate market.

The leases signed include one new long-term lease and several lease extensions and expansions.

Woodbridge Corporate Plaza is a six-building Class A office complex encompassing 630,000 square feet. Situated in the central New Jersey submarket of Metropark, the asset was recently renovated to include a plethora of new amenities.

Marc DeLuca

“Demand for well-amenitized office space in the New Jersey office market has ramped up over the last 24 months, which is why assets like Woodbridge Corporate Plaza are attracting new companies and retaining existing tenants,” says Marc DeLuca, regional president, Eastern United States, for KBS.

 “With the average asking rent increasing by 10.4% during that time, it’s clear that this is a market experiencing robust growth, and all signs point to a continuing upward trajectory.”

The leases include:

·        Allegiance Retail Services, a current subtenant, signed a direct long-term lease for 18,928 square-feet.

·        Office Evolution, an existing tenant, signed a long-term lease extension and expanded its total square footage to 14,500 square-feet.

·        ENT & Allergy Associates, an existing tenant, expanded its lease to 8,090 square-feet.

·        Day & Zimmerman, a new tenant, signed a long-term lease for 5,900 square-feet.

·        Schultheis & Panettieri, LLC, an existing tenant, extended its lease on 2,047 square-feet.

·        Ace Software Solutions, an existing tenant, extended its lease on 1,546 square-feet.

“We strive to provide our tenants with first-class office space in a convenient location,” says Stephen Close, asset manager of Woodbridge Corporate Plaza and senior vice president at KBS.

Stephen Close

“The success of this strategy is evident in the addition of Day & Zimmerman to the campus and the fact that current tenants want to renew, extend and expand their leases.”

Woodbridge Corporate Plaza recently underwent a series of renovations including the construction of new modern lobbies and restrooms, upgrading of flooring and lighting, installation of new entrance doors and new signage opportunities for tenants.

       

       The property provides a host of sought-after amenities, including a new 6,000 square-foot fitness center, an on-site full-service café and caterer, on-site man

CONTACT:

Micaela Fehrenbach 

mfehrenbach@brower-group.com