10B — May 15 - 28, 2020 — Central New Jersey — M id A tlantic Real Estate Journal
C entral NJ
Drummond and Perrotti of Newmark Knight Frank represents owner KBS signs over 50,000 s/f in leases at class A office plaza in Iselin
SELIN, NJ — KBS , one of the largest investors in premier commercial real estate in the nation, announced the signing of 51,011 s/f of com- mercial leases at Woodbridge Corporate Plaza in Central New Jersey real estate mar- ket. The leases signed include one new long-term lease and several lease extensions and expansions. Woodbridge Corporate Plaza is a six-building class A office complex encompassing 630,000 s/f. Situated in the central New Jersey submarket of Me- tropark, the asset was recently renovated to include a plethora I
of new amenities. “Demand for well-amenitized office space in the New Jersey office market has ramped up over the last 24 months, which is why assets like Woodbridge Corporate Plaza are attracting new companies and retaining existing tenants,” said Marc DeLuca , regional president, Eastern United States, for KBS. “With the average asking rent increasing by 10.4% dur- ing that time, it’s clear that this is amarket experiencing robust growth, and all signs point to a continuing upward trajectory.” The leases announced today include: • Allegiance Retail Services, a current subtenant, signed a direct long-term lease for 18,928 s/f. • Office Evolution, an exist - ing tenant, signed a long-term lease extension and expanded its total square footage to 14,500 s/f. • ENT & Allergy Associates, an existing tenant, expanded its lease to 8,090 s/f. • Day & Zimmerman, a new tenant, signed a long-term lease for 5,900 s/f. • Schultheis & Panettieri, LLC, an existing tenant, ex- tended its lease on 2,047 s/f. • Ace Software Solutions, an existing tenant, extended its lease on 1,546 s/f. Jamie Drummond and Andrew Perrotti of New- mark Knight Frank repre- sented KBS in the leases. Team Goski of NAI DiLeo-Bram & Co. closes sale in Kenilworth KENILWORTH, NJ — NAI DiLeo-Bram&Co. announced that Rich and Catherine Goski , closed the sale of the Blackthorn Inn Irish Pub & Restaurant located at 651 North Michigan Ave. in Ke- nilworth. The NAI DiLeo-Bram team represented the buyer, a Telehandler distributor based in Italy. The seller of the prop- erty was represented by Steve Batista of Jeffrey Realty . “We are pleased to have rep- resented our client, in this transaction, ” stated Rich. “There was a great amount of interest in this “bank owned” property from several buyers due to its location on a two-acre parcel of land, which is difficult to find in this area, along with its immediate access to major highways,” he added.
Woodbridge Corporate Plaza
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