Opal Holdings’ six-building Metropark office portfolio has experienced a frenzy of leasing activity, according to a Tuesday announcement from Cushman & Wakefield.
The real estate brokerage said that more than 101,000 square feet of leases have been signed within 99 Wood Ave. S., 101 Wood Ave. S., 333 Thornall St., 343 Thornall St. and 194 Wood Ave. S.
“We are thrilled to welcome our new tenants and that our existing tenants are renewing their leases. These transactions are a testament to tenants wanting a best-in-class, premier office experience that we are excited to provide,” said Harell Dhari, Opal Holdings’ asset manager for the Metropark portfolio.
Cushman & Wakefield’s Kevin Carton, Todd Elfand and Paul Giannone represented the landlord in the transactions, as well as a sublandlord at 194 Wood Ave S.
“Opal has done an incredible job managing and revamping these properties to create an amenity-rich, cultural environment for their tenants,” said Carton. “Top-tier tenants are flocking to Metropark because of Opal’s focus on tenant services, flexibility, safety and hospitality.”
“Metropark continues to be a consolidation hub for organizations looking to capitalize on the robust employee demographics, fantastic highway infrastructure and the MetroPark train station,” Elfand added. “Opal Holdings has been able to execute a tenant-focused strategy which has been very well received by existing and new tenants within the portfolio.”
Select transactions include:
- Schlesinger Global signed an 18,000-square-foot lease at 101 Wood Ave S.;
- Travelers Indemnity signed a 12,000-square-foot lease at 343 Thornall St.;
- Lucosky Brookman signed a 7,000-square-foot lease at 101 Wood Ave. S.;
- Wells Fargo signed a 7,000-square-foot lease at 99 Wood Ave. S.;
- Hazen Sawyer signed a lease at 99 Wood Ave. S.
“This activity within the central New Jersey market provides a positive outlook for what the future holds as tenants develop their return to the office strategies,” Giannone said. “Trophy assets with health, wellness and amenities at the forefront of the Metropark market provide a platform on which we can execute on behalf of the tenants and employees who occupy space within the million square feet that Opal now owns.”
