2C — February 28 - March 12, 2020 — Commercial Office Properties — M id A tlantic Real Estate Journal
C ommercial O ffice P roperties
Plans underway to reposition the 270,000 s/f, class A office building to maximize value SJP Properties acquires 200 Wood Avenue South in Woodbridge, NJ W OODBRIDGE, NJ — SJP Proper- ties has acquired
2 0 0 W o o d Ave. South, a 270,000 s/f, class A office bui lding in Woodbridge. Leve r ag i ng the strength of its vertical- ly integrated
platform, SJP will apply its expertise in asset, property, leasing and construction man- agement to modernize the property for today’s tenant requirements.
200 Wood Ave. South planned repositioning from Gensler
“We continue to study the New Jersey market and are strategically expanding our
portfolio in prime locations that benefit from the ongoing migration of companies to
areas that offer superior ac- cess to labor and transit,” said Steven Pozycki , CEO of SJP
Properties. “We look forward to maximizing the value of this opportunistic acquisition.” SJP’s plans for 200 Wood Ave. include all-new finishes, building systems and an ame- nity package with a state- of-the-art fitness center, im- proved conferencing facilities and dining center, and col- laborative indoor and outdoor areas. Existing landscaping and hardscaping at the building’s entrance and throughout the outdoor amenity areas will also be enhanced to improve the recreational green spaces. Additionally, SJP will provide its hospitality services with a concierge approach as part of its property management offering. “Creating a world-class of- fice experience is more than just improving the physical property; it requires a holis- tic and thoughtful approach that considers every aspect of how companies need their offices to perform,” said Peter Bronsnick , executive VP of SJP Properties. “Reposition- ing 200 Wood Ave. gives us an opportunity to leverage our core competencies in develop- ment, leasing and concierge property services to transform the tenant experience for the building’s occupants and their employees.” 200 Wood Ave. South offers the ability to attract and retain New Jersey’s top talent where the labor markets converge. The building is within walk- ing distance to the Metropark Train Station, which offers NJ Transit and Amtrak Acela services. 200 Wood is also conveniently located near the cross-sections of Lincoln High- way, Middlesex Tpke. and the Garden State Pkwy., with di- rect access to the Pkwy. North and South located immediately adjacent to the building’s exit driveway.
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