A rendering of an upgraded lobby at 200 Wood Ave. South, a 270,000-square-foot office building acquired by SJP Properties — Rendering by Gensler/Courtesy: SJP Properties
By Joshua Burd
SJP Properties has acquired a 270,000-square-foot office building in Woodbridge, where it’s now planning an extensive renovation aimed at creating an environment for high-end tenants.
The developer on Wednesday said it will use its full-service platform to reposition the property, 200 Wood Ave. South, which is within walking distance of the Metropark train station. Its plans include new finishes and building systems, plus amenities such as a modern fitness center, improved conferencing facilities and dining center and collaborative indoor and outdoor areas.
“We continue to study the New Jersey market and are strategically expanding our portfolio in prime locations that benefit from the ongoing migration of companies to areas that offer superior access to labor and transit,” said Steven J. Pozycki, CEO of SJP Properties. “We look forward to maximizing the value of this opportunistic acquisition.”
The longtime New Jersey developer and owner also said it will enhance existing landscaping and hardscaping at the building’s entrance and throughout the outdoor amenity areas, seeking to improve the recreational green spaces. Additionally, SJP will provide its hospitality services with a concierge approach as part of its property management offering.
The firm is working with the CBRE team of Jon Meisel and Wes Moore to oversee leasing at the property.
“Creating a world-class office experience is more than just improving the physical property; it requires a holistic and thoughtful approach that considers every aspect of how companies need their offices to perform,” said Peter Bronsnick, executive vice president of SJP Properties. “Repositioning 200 Wood Avenue gives us an opportunity to leverage our core competencies in development, leasing and concierge property services to transform the tenant experience for the building’s occupants and their employees.”
In a news release, SJP touted the building’s ability to draw talent in an area where labor markets converge. The nearby Metropark station offers NJ Transit and Amtrak services, while the building has access to the Garden State Parkway immediately adjacent to the building’s exit driveway.
