Woodbridge Corporate Plaza at 485 Route 1 South in Iselin — Courtesy: KBS
By Joshua Burd
A global banking organization has extended its commitment at a Woodbridge office park, where it occupies more than 53,000 square feet under a lease with KBS.
The landlord, a private equity real estate investment firm, on Wednesday announced the 53,186-square-foot extension with BNP Paribas. The French banking company will continue to occupy the first and third floors of Building D at Woodbridge Corporate Plaza, a six-building, 630,000-square-foot complex in the town’s Iselin section.
Located at 485 Route 1 South, the property offers quick access to the Garden State Parkway and the other major arteries that run through the township. The deal follows recent renovations at the campus, which resulted in modernized lobbies and restrooms, upgraded flooring and lighting, new entrance doors and new signage opportunities for tenants.
“Our ability to retain such an in demand tenant demonstrates the strength and continued growth of the local market, and the quality of our Metropark asset,” said Stephen Close, asset manager of Woodbridge Corporate Plaza and senior vice president at KBS. “We repositioned the asset to incorporate modern, upscale amenities that are in line with the demands of today’s top companies.”
Jamie Drummond and Andrew Perrotti of Newmark Knight Frank represented KBS in the lease extension. Joe Messina, Allison Melichar and James Schroeder of JLL represented BNP Paribas.
“KBS has done a remarkable job modernizing and upgrading Woodbridge Corporate Plaza to include an impressive list of top-shelf amenities that both attract new tenants and provide expansion opportunities to existing tenants,” said Drummond, a senior managing director with NKF. “The complex provides tenants with a state-of-the-art workplace that is conveniently located in close proximity to major roadways.”
In a news release, KBS also touted amenities such as a café and caterer, on-site management and shuttle service to the Metropark transit hub.
“This transaction is a testament to KBS’ strength as a hands-on asset manager that anticipates and immediately responds to the needs of our tenants,” said Marc DeLuca, KBS’ regional president for the eastern U.S. “The environments we create provide tenants with optimal service and amenities, which is attracting new tenants and driving existing tenants to renew and extend their leases with us.”
