SJP signs national insurance carrier for newly repositioned Metropark property

Reflecting the success of SJP Properties’ program to reposition the property for the needs of the modern workforce – with a combination of state-of-the-art infrastructure, indoor and outdoor amenities, and purpose-built workspaces – the firm announced Tuesday that a national insurance carrier signed a lease for 21,010 square feet at 200 Wood Ave. S. in Iselin.

The unnamed carrier committed to a long-term lease at Metropark’s 200 Wood Ave. S. due to the building’s unique attributes and SJP’s superior concierge management and project management capabilities, SJP said. It will occupy the new space in the first quarter of 2022.

The office location is in addition to the company’s existing Manhattan headquarters.

Blake Goodman and Erin Moran of JLL represented the tenant in the transaction, while Wes Moore of CBRE represented SJP.

SJP Project Solutions, SJP’s third-party construction management platform, will execute a custom interior build-out to accommodate the tenant’s workforce.

The build-out will include the creation of private offices, executive offices with views of the redeveloped campus, collaborative spaces for employees, and custom glass office fronts throughout, as well as the installation of modern LED linear light fixtures. The space will also feature high finished ceilings made possible by the slab-to-slab heights of the existing interior, with an open ceiling in the office lobby to accentuate both the building’s historic architecture and its concrete waffle slab construction entrance.

“This provider of insurance solutions joins a growing list of prestigious companies that have selected 200 Wood Ave. S. for its standout combination of headquarters-quality office space and exceptional amenities, all within the Metropark submarket that makes commuting convenient to points both north and south,” said Alexander Erdos, senior vice president – Leasing and  Marketing at SJP Properties. “We’ve had an overwhelmingly positive response to this property as more companies seek out opportunities for their teams to occupy world-class office environments in strategic, transit-oriented locations.”

SJP acquired 200 Wood Ave. S. in early 2020 and executed a comprehensive strategy to reposition it, paying homage to its postmodernist architecture with a complete interior and exterior renovation, as well as new building systems and indoor/outdoor lifestyle amenities.

The company’s employees will enjoy the building’s brand new lobby, state-of-the-art fitness center, collaborative common areas, including landscaped outdoor meeting areas, nationally recognized food operators within the on-site dining area, and ample on-site parking. SJP is also providing its signature hospitality and concierge services as part of its property management offering.

Spanning 270,000 square feet, 200 Wood Ave. S. offers the ability to attract and retain New Jersey’s top talent where the labor markets converge. It is within walking distance to the Metropark Train Station, which offers New Jersey Transit and Amtrak Acela services. 200 Wood Ave. S. is also conveniently located near the cross-sections of Lincoln Highway, Middlesex Turnpike, and the Garden State Parkway.