10 Woodbridge Center Drive in Woodbridge — Courtesy: Cushman & Wakefield
By Joshua Burd
Provident Bank has signed two leases for a combined 84,000 square feet in Woodbridge, the home of its headquarters and a planned operations center.
According to Cushman & Wakefield, which brokered the deals, the commitments include 44,000 square feet at 111 Wood Ave. in the Metropark campus and 40,000 square feet at 10 Woodbridge Center Drive. Both buildings are owned by Atlantic Realty Development Corp.
“This move supports our future growth plans and enables us to keep our administrative headquarters and new operations center in a very desirable location,” said John Kuntz, Provident’s senior executive vice president and chief administrative officer. “The new spaces will reflect our commitment to our employees, as both Class A buildings offer a host of amenities and a modern, vibrant, tech-enabled and collaborative work environment, fitting for a best-in-class financial institution.”
The C&W team of Paul Giannone and Kevin Carton represented both parties in the transactions, noting the buildings provide easy access to the vast network of highways that run through Woodbridge. The firm added that both have amenities such as shared conference space, cafes, fitness centers, covered parking, event centers and outdoor space, while 10 Woodbridge Center has also undergone renovations recently.
“We’re thrilled to have worked with both Provident Bank and Atlantic Realty Development Corp. to arrange these two leases simultaneously,” Giannone said. “Both of these properties are conveniently located near major highway networks and mass transportation, allowing tenants to attract employees from a large and diverse labor pool.”
The recently completed leases were among the largest transactions of the fourth quarter.
“We are excited to have Provident as a tenant,” Atlantic Realty’s Jeremy Schall said.
