SJP Properties Signs a National Insurance Carrier for 21,010 SF at 200 Wood Avenue South

Iselin, N.J.  — SJP Properties announced today that a national insurance carrier has signed a lease for 21,010 square feet at 200 Wood Avenue South in Iselin, N.J. The transaction reflects the success of SJP’s program to reposition 200 Wood Avenue South for the needs of the modern workforce, with an unparalleled combination of state-of-the-art infrastructure, indoor and outdoor amenities, and purpose-built workspaces. 

The national insurance carrier committed to a long-term lease at 200 Wood Avenue South due to the building’s unique attributes and SJP’s superior concierge management and project management capabilities. The new office is in addition to its existing Manhattan headquarters. The deal follows leases by international transport company DSV and globally-ranked financial services company Credit Agricole, which have also established offices at 200 Wood Avenue South.

“This provider of insurance solutions joins a growing list of prestigious companies that have selected 200 Wood Avenue South 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 & 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 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 excellent 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. The national insurance carrier will begin occupying its new space at 200 Wood Avenue South in Q1 of 2022. Blake Goodman and Erin Moran of JLL represented the tenant in the transaction, while Wes Moore of CBRE represented SJP.

SJP acquired 200 Wood Avenue South 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.

Leasing opportunities totaling 135,000 square feet of available space currently exist at the building. Additionally, for tenants seeking a private outdoor area for their employees, SJP has created a landscaped open green space at 200 Wood Avenue South — the only space of its kind within New Jersey — that is available exclusively for a future tenant to customize into a private patio, outdoor lounge, dining area, or garden conferencing space with SJP’s build-out capabilities.

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

The building has a resilient and efficient infrastructure, featuring a base-building UPS system, two 1,500 kilowatt power generators and upgraded mechanical systems — including air filtration upgrades for improved air quality to create a healthier environment for employees.

For more information about 200 Wood Avenue South, please visit www.woodavemetropark.com.

About SJP Properties

Headquartered in New York City, SJP Properties is a vertically integrated commercial and residential real estate owner, developer, investor, asset manager, construction manager and property manager. The expertise of the company’s core in-house team of professionals encompasses the entire development process, from site selection through coordination of tenant move-in for large multi-phase projects, including numerous Class A build-to-suit developments and individual tenant build-outs. Well known for the creation of unparalleled lifestyle-focused developments, SJP is committed to meticulous design and engineering development plans that reflect a keen understanding of market demand.