SJP Properties Signs Credit Agricole CIB to New Office Lease at 200 Wood Avenue South
International financial institution drawn to next-generation Metropark workplace by urban commuting trends and resilient infrastructure
Iselin, N.J. – SJP Properties today announced that Crédit Agricole CIB, the corporate and investment banking arm of Crédit Agricole Group, the 12th largest banking group worldwide in terms of tier 1 capital (The Banker, July 2020), has signed a new office lease for 12,800 square feet at 200 Wood Avenue South in Iselin, N.J.
SJP acquired the 270,000-square-foot property earlier this year and is in the midst of executing a comprehensive strategy to reposition it, paying homage to its postmodernist architecture with a complete interior renovation, as well as new building systems and indoor and outdoor lifestyle amenities.
Headquartered in France, Crédit Agricole CIB selected its new offices at 200 Wood Avenue South to house its New Jersey operations due to the building’s resilient and efficient infrastructure, and to create a more convenient, transit-oriented location for the company’s New Jersey-based employees. The property features 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.
“We look forward to beginning our partner-tenant relationship with Crédit Agricole CIB’s New Jersey team, and are confident that 200 Wood Avenue South is the ideal location for such an esteemed international financial services company. This property provides unparalleled access to the state’s highly-skilled workforce, redundant power for security and business continuity and more square footage per employee,” said Peter Bronsnick, President – New Jersey Region at SJP Properties. “The team at SJP is excited to offer high-caliber tenants such as Credit Agricole a range of resilient properties across its New Jersey portfolio. As companies begin to adjust their strategies and adapt their own businesses to a changing workforce landscape, SJP is equipped to respond to those shifts quickly and efficiently.”
Crédit Agricole CIB employees will enjoy 200 Wood Avenue’s brand new lobby; amenities such as onsite dining, a state-of-the-art fitness center and collaborative common areas; ample parking; and direct north- and southbound access to the Garden State Parkway. SJP also will provide its signature hospitality and concierge services as part of its property management offering.
Crédit Agricole CIB was represented in its lease by Charlie Dillon of JLL. SJP was represented by the CBRE agency leasing team of Jonathan Meisel and Wes Moore.
Leasing opportunities currently exist at 200 Wood Ave South. Additionally, for tenants seeking a private outdoor area for their employees, the property features open green space — 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.
200 Wood Avenue South offers the ability to attract and retain New Jersey’s top talent where the labor markets converge. The building is within walking distance to the Metropark Train Station, which offers NJ Transit and Amtrak Acela services. 200 Wood is also conveniently located near the cross-sections of Lincoln Highway, Middlesex Turnpike and the Garden State Parkway.
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.
Having sustained an unblemished track record of success, SJP has established relationships with many of the industry’s leading investors and financial institutions, providing unparalleled access to capital. For more information, call 212-335-2200 or visit www.sjpproperties.com
