200 Wood Ave. South in Iselin — Courtesy: SJP Properties
By Joshua Burd
Siemens has joined the tenant roster at a newly updated office building in Woodbridge, where it’s taking more than 65,000 square feet under a recent lease with SJP Properties.
According to the landlord, the deal at 200 Wood Ave. South will allow Siemens to maintain its longtime presence in the town’s Iselin section while upgrading its space. The industrial technology company is slated to move to the 270,000-square-foot building, part of the Metropark submarket, in the third quarter.
CBRE’s Jeff Babikian and Wes Moore represented Siemens and SJP, respectively.
“In an environment where companies are fiercely competing for talent, 200 Wood Avenue South is attracting growing, world-class institutional tenants that see this building as an asset in their ability to recruit and retain a top-notch workforce,” said Alexander Erdos, SJP’s senior vice president for leasing and marketing. “Forward-thinking companies such as Siemens are a prime example of the interest we’re seeing in not just Metropark, one of the strongest and most ideally-located submarkets in New Jersey, but also in this particular property with its top-of-the-line amenities, outdoor spaces, work areas and infrastructure.”
The 65,500-square-foot deal comes two years after SJP acquired 200 Wood Ave. South and set out to reposition the property, seeking to capitalize on the building’s direct access to the Garden State Parkway, proximity to the New Jersey Turnpike and a location that is within walking distance of the Metropark train station. Upgrades included a complete renovation, plus new building systems and amenities such as a high-end fitness center and indoor and outdoor meeting areas.
Siemens will join a national insurance carrier, international transport company DSV and globally ranked financial services company Credit Agricole, all of which have established offices at 200 Wood Ave. South since SJP bought the building. SJP Project Solutions, the firm’s third-party construction management platform, will execute a custom interior build-out for Siemens’ multi-division workforce.
“We’re happy to work with SJP Properties to secure a lease for this office space as Metropark has been an excellent location for our employees for more than 50 years, namely due to the site’s commuting advantages and accessibility to major highways and railways,” said Michael Huber, head of Siemens real estate Americas.
In announcing the deal, SJP noted that it’s marketing up to 25,000 square feet at 200 Wood Ave. South. It also touted a new landscaped open green space that is available exclusively for a future tenant to customize into a private patio, outdoor lounge, dining area or garden conferencing space.
“The level of leasing activity we’ve seen at 200 Wood Avenue not just today, but throughout the pandemic, is a case study in what companies are seeking for their employees and base of operations,” Erdos said.
Newmark: Hudson waterfront stands out in Q1 amid steady gains in N.J. office market
