1:00 PM
Newmark Grubb Knight Frank (NGKF) has completed more than 100,000 square feet in lease agreements at Woodbridge Corporate Plaza as part of intensive marketing efforts on behalf of KBS Realty Advisors, which owns the 630,000-square-foot office complex at 485 Route 1 South in Iselin, N.J.
NGKF closed 11 deals at the six-building campus, including new leases, renewals and tenant expansions. Located at Route 1 and the Garden State Parkway near the MetroPark Transit Hub, the complex features new climate control systems throughout, new elevators and new roofs installed in 2013.
“Tenant retention is a critical component of leasing, and KBS Realty Advisors has worked with us to keep tenants at Woodbridge Corporate Plaza happy and to operate the property at peak performance levels,” said Jamie Drummond, senior managing director at the NGKF office in Rutherford, N.J.
Working with Mr. Drummond on the leasing team for Woodbridge Corporate Plaza are Larry Martin, managing director; Jason Harkavy, associate director; and David Simson, vice chairman and COO of the New Jersey offices.
Newly signed tenants include the following:
• A confidential tenant in the education services sector signed a new, long-term lease for 23,286 square feet. NGKF represented both the landlord and tenant in the negotiation.
• Tallen Technology Rentals Inc. signed a new lease for 13,716 square feet and was represented by Jones Lang LaSalle.
• Power Home Remodeling Group leased 9,189 square feet to establish an office at the property. Cushman & Wakefield represented the tenant.
• Law Firm, Servilla Whitney LLC signed a new lease for 7,330 square feet and was represented by Cushman & Wakefield.
• First Investors Corp., a financial advisory, signed a new, long-term lease for 4,500 square feet.
• IT consulting and businesses services provider Vforce InfoTech signed a new lease for 3,266 square feet, and was represented by CBRE.
Existing tenants at Woodbridge Corporate Plaza that have renewed or extended leases in recent months include the following:
• Geodis Wilson USA , Inc., a freight services manager, signed a long-term lease extension and expanded its space to 19,847 square feet. NGKF represented both the tenant and landlord.
• Auto Injury Solutions, Inc., which provides medical claim management tools to auto insurers, extended the term on its lease of 15,252 square feet. CBRE represented the tenant.
• Progressive Casualty Insurance Company expanded its leased space by 3,840 square feet. CBRE represented the tenant, which now occupies more than 31,000 square feet in the complex.
• Verizon signed a long-term extension for its lease of 2,000 square feet.
• SOA Software Inc., which helps companies manage how software components interact, extended its lease for 1,258 square feet. NAI James E Hanson represented the tenant.
Woodbridge Corporate Plaza is within minutes of the New Jersey Turnpike, Routes 9, 27, 440 and I-287, and enjoys easy access to Newark Liberty International Airport. An onsite café provides catering and delivery to tenant suites, and the campus is convenient to an array of restaurants, hotels and retail amenities including Woodbridge Center Mall and Menlo Park Mall.
A new shuttle service, free to tenants at Woodbridge Corporate Plaza, connects the property to the MetroPark Transit Hub, three minutes away.
Availabilities at Woodbridge Corporate Plaza range from 1,500 square feet to as large as 98,000 square feet. For information, contact the leasing team at 201-842-6700.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 320 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.
About KBS
KBS Realty Advisors is a private equity real estate company and SEC-registered investment advisor founded in 1992. KBS Realty Advisors and its affiliated companies have completed transactional activity of more than $26 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and five non-traded REITs. For information, visit www.kbsrealty.com.