SJP Properties said Wednesday it acquired 200 Wood Ave. S., a 270,000-square-foot, Class A office building in Woodbridge.
SJP said it will apply its expertise in asset, property, leasing and construction management to modernize the property for today’s tenant requirements. Its plans include all-new finishes, building systems and an amenity package with a fitness center, improved conferencing facilities and dining center, and collaborative indoor and outdoor areas.
“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 access to labor and transit,” stated Steven Pozycki, chief executive officer of SJP Properties. “We look forward to maximizing the value of this opportunistic acquisition.”
“Creating a world-class office experience is more than just improving the physical property; it requires a holistic and thoughtful approach that considers every aspect of how companies need their offices to perform,” stated Peter Bronsnick, executive vice president of SJP Properties. “Repositioning 200 Wood Ave. gives us an opportunity to leverage our core competencies in development, leasing and concierge property services to transform the tenant experience for the building’s occupants and their employees.”
SJP is working with the CBRE team of Jon Meisel and Wes Moore to oversee leasing at the property.
200 Wood Ave. S. is within walking distance to Metropark Train Station, which offers New Jersey Transit and Amtrak Acela services. It is also located near the cross-sections of Lincoln Highway, Middlesex Turnpike and the Garden State Parkway, with direct access to the Parkway North and South located immediately adjacent to the building’s exit driveway.