SJP Properties announced on Wednesday it has acquired a 270,000-square-foot Class A office building in Woodbridge.
SJP said it is planning to modernize 200 Wood Ave. South, including all new finishes and building systems, a fitness center, improved conference facilities and dining center, and collaborative indoor and outdoor spaces. Existing landscape and hardscape will also be enhanced.
“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,” Steven J. Pozycki, CEO of SJP Properties, said. “We look forward to maximizing the value of this opportunistic acquisition.”
The building is within walking distance to the Metropark Train Station as well as near the Garden State Parkway.
“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,” Peter Bronsnick, executive vice president of SJP Properties, said. “Repositioning 200 Wood Avenue 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 said it is working with CBRE‘s Jon Meisel and Wes Moore to oversee leasing at the property.