99 Wood Ave. South in Iselin — Courtesy: Cushman & Wakefield
By Tina Traster
An investment firm has leased more than 100,000 square feet across its growing office portfolio in Woodbridge and Edison, under a series of recent deals by Cushman & Wakefield.
The brokerage team, which represented Opal Holdings, said the transactions include six new leases, four renewals, one lease expansion and a sublease within the Metropark submarket. The deals took place across five buildings at 99, 101 and 194 Wood Ave. South in Woodridge and 333 Thornall and 343 Thornall St. in Edison.
“We are thrilled to welcome our new tenants and that our existing tenants are renewing their leases,” said Harell Dhari, Opal Holdings’ asset manager for the Metropark portfolio. “These transactions are a testament to tenants wanting a best-in-class, premier office experience that we are excited to provide.”
The deals include leases of 18,000 and 7,000 square feet at 101 Wood Ave. South by Schlesinger Global and Lucosky Brookman, respectively. At 343 Thornall St., Travelers Indemnity took 12,000 square feet, while Wells Fargo and Hazen Sawyer both signed leases at 99 Wood Ave. South.
Cushman & Wakefield’s Kevin Carton, Todd Elfand and Paul Giannone completed the deals on Opal’s behalf, while also representing a sub-landlord at 194 Wood Ave South.
“Opal has done an incredible job managing and revamping these properties to create an amenity rich, cultural environment for their tenants,” Carton said. “Top-tier tenants are flocking to Metropark because of Opal’s focus on tenant services, flexibility, safety, and hospitality.”
Elfand added: “Metropark continues to be a consolidation hub for organizations looking to capitalize on the robust employee demographics, fantastic highway infrastructure and the Metropark train station. Opal Holdings has been able to execute a tenant-focused strategy which has been very well received by existing and new tenants within the portfolio.”