Iselin, NJ Newmark announced it has completed eight leases totaling nearly 60,000 s/f at Woodbridge Corporate Plaza, a six-building office complex. Newmark senior managing director Jamie Drummond and associate director Andrew Perrotti serve as exclusive leasing advisors for the property, representing the asset owner, an affiliate of Ramapo NY-based Northeast Capital Group, in the transactions.
Northeast Capital Group recently purchased the office park in May of 2021, with Newmark's Tri-State Capital Markets team helping to facilitate the sale on behalf of former owner KBS. After being selected as the leasing team under the new ownership, Drummond and Perrotti hit the ground running, accomplishing nearly 60,000 s/f of leasing since the fourth quarter of 2021.
"We are honored to represent Northeast Capital Group in closing 2021 with a strong quarter of leasing at Woodbridge Corporate Plaza," said Drummond. "With the continued disruption to office demand from COVID-19 variants, the completion of these leases speaks to the strength of this asset."
The recent leasing transactions completed by the Newmark team are as follows:
- Biotechnology company Genosity signed a long-term extension and expansion, growing its space from 14,000 to 27,700 s/f
- MultiMedia Healthcare signed a 13,364 s/f lease extension
- Convenience store brand Wawa signed a new 4,500 s/f space
- Wealth management firm Cetera signed a new 4,100 s/f lease extension, relocating within the complex
- Align Wealth Management signed a new 3,054 s/f lease
- SAA Interiors & Architecture signed a 2,500 s/f lease extension
- 3B Staffing signed a 1,607 s/f new lease
- IT infrastructure services company Microland extended their 1,280 s/f lease.
Woodbridge Corporate Plaza totals more than 630,000 s/f across six buildings. It features recently upgraded tenant amenities, including a new 6,000 s/f fitness center, a full-service café and a brand-new conference and training center. It also offers new signage opportunities for tenants, including new exterior monument signs and new electronic lobby directories. The property can accommodate users ranging from 2,000 s/f to 25,000 s/f.
The campus located near numerous restaurants, hotels and retail amenities. Woodbridge Corporate Plaza is located along Route 1 at the Garden State Pkwy and minutes from the NJ Turnpike and Routes 9, 27, 440, and I-287, with easy access to Newark Liberty International Airport. For transit commuters, the office park is just 1.5 miles, or about a 3-minute drive, to the Metropark transit hub and offers tenants free shuttle service.
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