Two medical practices have signed leases at a two-building complex in Woodbridge, real estate firm CBRE announced Friday.
University Orthopaedic Associates signed a full-building lease for 13,435 square feet, while White Oak Dental & Orthodontics leased 2,477 square feet at 1040 U.S. Highway 1 in Avenel, CBRE said in a news release. Both tenants expect to move into the retail and medical property owned by Alliance Holding Co. of Woodbridge LLC, which totals 18,235 square feet, in early 2021.
CBRE’s Steven Winters, first vice president, led the marketing campaign and represented ownership in the transaction. Newmark Knight Frank’s Andrew Perrotti and Jamie Drummond represented University Orthopaedic, while Masserano Real Estate & Consulting’s Joseph Lombardi and John Masserano represented White Oak Dental.
“Both University Orthopaedic and White Oak Dental chose this high-profile retail plaza due to its outstanding presence, visibility and access along Route 1 and the superior demographics of Woodbridge Township,” Winters said in a prepared statement. “We are pleased to have completed long-term leases for two successful medical tenants and now only have on remaining 2,125-square-foot unit available. The developer is looking for another medical tenant to bring 1040 Route 1 to 100% occupancy.”
CBRE Project Management assisted in the completion of the property, while CBRE Property Management has been chosen to manage and operate it.