Newmark is pleased to highlight the recent success of the newly renovated Metro 101 at 101 Wood Avenue South in Iselin, N.J., which has attracted several new notable prime tenants such as Investors Bank, BASF, Amerigroup, and Schlesinger Associates to the tenant roster.
Metro 101, the former headquarters of Engelhard Corporation, has undergone a major renovation to transform the single-tenant headquarters into a Class A multi-tenanted office building. The 10-story building spans 270,000 square feet and offers such enviable features as a full-service cafeteria, shared conference center, covered parking deck, and a state-of-the-art fitness center with locker rooms. The building is attended by a full-time security guard in the brand new lobby, outfitted with granite and marble. For visitors and out-of-town employees, Metro 101 is conveniently located next door to the Woodbridge Hilton Hotel and within walking distance of the Metropark Train Station.
“The ownership recognized that to lure quality tenants to the building, it would have to create an impressive and upscale office environment with first-class amenities,” said Rich Mirliss, managing director at Newmark. “The success is self-evident. Just look at the roster of new tenants. Metro 101 is now one of the most desirable locations in the area due to the first class upgrades and amenities.”
Prospective tenants will join a bevy of premier, best-in-class companies that recently signed onto the building. Investors Savings Bank, since rebranded as Investors Bank, took 38,800 square feet on the 9th and 10th floors and Microsoft occupies the remaining 21,700 square feet on the 9th floor. Amerigroup signed on for 31,400 square feet, or the entire 8th floor. Biopharmaceutical company ThromboGenics will occupy 8,400 square feet on the 6th floor. Marketing research firm Schlesinger Associates has leased 26,000 square feet on the 5th floor, while BASF inked a deal for 21,250 square feet on the 3rd floor. Space is still available at Metro 101, ranging from 5,454 square feet to 31,685 square feet.
Newmark’s Rich Mirliss, Managing Director Hope Brodsky and Associate Kieran McGee head up leasing for the building. Since taking on the assignment last year, the team has helped bring Metro 101 to 75 percent leased. The property was acquired by Spear Street Capital from BASF in August 2008. It formerly served as the headquarters for Engelhard Corporation, which was acquired by BASF.
About Newmark
Newmark is one of the largest real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank together operate from more than 240 offices in established and emerging property markets on five continents. With a combined staff of more than 7,000 and revenues last year exceeding $993 million, this major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide. For further information, visit www.newmarkkf.com.
Newmark is a part of BGC Partners, Inc. (NASDAQ:BGCP), a leading global brokerage company primarily servicing the wholesale financial markets. For further information, visit www.bgcpartners.com.