194 Wood Ave. South in the Iselin section of Woodbridge — Courtesy: Cushman & Wakefield
By Joshua Burd
The new owner of a nine-story office building in Woodbridge has tapped Avison Young as its leasing agent, following the brokerage team’s success at a large campus in Morris County.
The real estate services firm will work on behalf Liberty Properties LLC, an operating division of Opal Holdings, to lure additional tenants to 194 Wood Ave. South in the township’s Iselin section. The appointment comes less than a month after Opal acquired the 452,133-square-foot property, which is 95 percent leased, from AIG for $140 million.
Avison Young Principal and Managing Director Jeff Heller, Principal Bill McCaffrey and Associate Evan Bernard will lead the marketing team.
“We are thrilled to be working with Liberty Properties again, this time representing a remarkable office asset in Metropark,” said Heller, who leads Avison Young’s Morristown-based New Jersey division. “194 Wood Avenue South is a great option for a variety of businesses in New Jersey with its centralized location and extensive amenities package.”
Avison Young is also working with Liberty Properties at Park Avenue at Morris County, a 1.16 million-square-foot office campus in Florham Park, which the investor acquired earlier this year. The brokerage team had been the complex’s leasing agent under the prior owner, helping to raise occupancy to nearly 90 percent.
In a news release, Avison Young noted that 194 Wood offers amenities such as a food court, on-site daycare, a parking deck and year-round security. The building is within walking distance of the Metropark train station, directly off the Garden State Parkway and only minutes away from other highways including Routes 1 and 9, Interstate 287 and the New Jersey Turnpike.
“Avison Young did an outstanding job for Park Avenue at Morris County, our office campus in Florham Park,” said Brian Haimm, Liberty Properties’ chief financial officer. “We are excited to continue building on a very successful working relationship and have their full support in the marketing and leasing of our newest acquisition.”
AIG sells 471,000 sq. ft. Metropark office building for $140 million, C&W says
