Cushman & Wakefield announced Tuesday that the real estate services firm has arranged the sale of a mixed-use development site located at 186 Wood Ave. S. within Centra at Metropark in Iselin.
Cushman & Wakefield’s Andrew Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso and Ryan Larkin represented the seller, Hampshire Cos., in the transaction. The property was acquired by and will be developed by Woodmont Properties, known for their many luxury multifamily communities in New Jersey and Pennsylvania.
“We are thrilled to have arranged the successful sale of this prime development site in Metropark,” Larkin said. “This project aligns perfectly with the needs of the community, offering a unique opportunity for a mixed-use development that will enhance the live-work-play environment within this dynamic district. The proximity to Metropark Station and the array of amenities in the area make it an attractive prospect for both residents and businesses.”
Upon completion, the property will feature luxury residential apartments and high-end senior housing. The property is located in Centra at Metropark, New Jersey’s premiere office market, which consists of 110,000 square feet of Class A office space featuring a full-service cafeteria, fitness center, conference center and on-site, full-time concierge and security, which Cushman & Wakefield sold on behalf of ownership in 2021 to Opal Holdings.
Centra is conveniently located just 10 minutes from Metropark Station, a significant New Jersey mass transit hub that offers commuters direct access to New York Penn Station as well as Acela service from Boston to Washington, D.C.