1040 Route 1 in Avenel — Courtesy: CBRE
By Joshua Burd
The developer of a new retail and medical complex in Woodbridge has filled nearly 16,000 square feet after inking new leases with an orthopedic practice and a dental group.
Brokers with CBRE announced Friday that University Orthopedic Associates committed to 13,435 square feet and will occupy one of two buildings at the new 18,235-square-foot property, which is located at 1040 Route 1 in the township’s Avenel section. The second tenant, White Oak Dental & Orthodontics, leased 2,477 square feet.
CBRE First Vice President Steven Winters represented the landlord, Alliance Holding Company of Woodbridge LLC. Andrew Perrotti and Jamie Drummond of Newmark Knight Frank represented University Orthopedic Associates, while Joseph Lombardi and John Masserano of Masserano Real Estate & Consulting represented White Oak Dental & Orthodontics.
The tenants plan to move into their new spaces in early 2021.
“Both University Orthopedic and White Oak Dental chose this high-profile retail plaza due to its outstanding presence, visibility and access along Route 1 and the superior demographics of Woodbridge Township,” Winters said. “We are pleased to have completed long-term leases for two successful medical tenants and now only have one remaining 2,125-square-foot unit available. The developer is looking for another medical tenant to bring 1040 Route 1 to 100 percent occupancy.”
In addition to the leasing team, CBRE’s project management division assisted in the completion of the center, while its property management group has been tapped to manage and operate the complex.