Woodbridge Corporate Plaza in Iselin — Courtesy: KBS
By Joshua Burd
Over a dozen tenants have combined to lease more than 100,000 square feet at a six-building, 629,000-square-foot office complex in Woodbridge, executives with KBS announced.
The company, which owns Woodbridge Corporate Plaza in Iselin, on Monday said it has signed 13 leases over the past six months at the Route 1 property. The transactions total 103,396 square feet, comprising six new leases, four renewals and three expansions.
“This rapid leasing activity is demonstrative of the quality product we are able to provide our tenants as hands-on asset managers,” said Stephen Close, senior vice president for KBS and asset manager of the property. “We are attracting new tenants, and maybe more importantly, many of our existing tenants are renewing and expanding within our buildings. These companies have experienced first-hand the types of amenities the property features and caliber of service we offer and are actively choosing to grow within this award-winning property.”
In a news release, KBS said the new companies at the complex include iCreditWorks, C.H. Robinson, Vlasac & Shumark, Acrisure, Apex and Hackensack Meridian Occupational Health. Tenants that renewed include TDK Lambda Americas, Auto Injury Solutions, Bank of Tokyo-Mitsubishi, MCI Metro, Multimedia Heathcare Comm, Lincoln Investment Planning and Cipriani & Werner.
The Newmark Knight Frank team of Jamie Drummond and Andrew Perrotti represented KBS in the leases.
“We are excited to welcome the new tenants and help our current tenants grow their footprints within this innovative campus environment,” said Drummond, a senior managing director with NKF. “Metropark is an exceptionally strong market with ongoing job growth, which is a prominent factor in attracting quality tenants.”
Woodbridge Corporate Plaza won The Outstanding Building of the Year Award in the Renovated Building category last year, the news release said. The property features a café, on-site management, a fitness center with showers and locker rooms, along with dry cleaning pick-up and drop-off and a shuttle service to surrounding retail amenities.
Marc DeLuca, KBS’ regional president for the eastern United States, noted that the company initially acquired Woodbridge Corporate Plaza in 1996, sold the asset in 1998 and reacquired the property in 2005.
“These strategic trades are based on the continued strength of this submarket, which continues to demonstrate fundamentals that make Woodbridge Corporate Plaza a valuable asset over the long-term,” DeLuca said. “The Metropark area continues to experience solid population growth, and is located in the heart of Middlesex County, the second most populous county in the state.”