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Deals & Dealmakers

Media Group, holding co. boost occupancy at KBS Realty’s Woodbridge Corporate Plaza

Newmark Grubb Knight Frank (NGKF) negotiated two new, long-term leases for more than 36,000 s/f at Woodbridge Corporate Plaza in the first quarter of 2014.

NJ Advance Media LLC and N/B Group Holdings, Inc. signed on for 30,383 s/f and 6,375 s/f, respectively.

The Rutherford, N.J.-based NGKF team of senior managing director Jamie Drummond, managing director Larry Martin, associate director Jason Harkavy and New Jersey vice chairman/COO David Simson are the exclusive leasing agents for the 630,000 s/foffice complex at 485 Route 1 South in Iselin on behalf of owner KBS Realty Advisors.

The recent signings continue the momentum generated in the fourth quarter of 2013, when NGKF announced more than 100,000 s/f of new leases and renewals.

Woodbridge Corporate Plaza
Woodbridge Corporate Plaza

“The activity and interest in Woodbridge Corporate Plaza continues to be strong,” said Drummond. “We are currently in negotiations with several new tenants, as well as existing tenants regarding renewals and expansions, and expect to have additional announcements shortly.

“This activity is a tribute not only to the location, but also the strong institutional ownership provided by KBS Realty Advisors,” added Drummond.

“Under its direction, the Plaza has benefited from ongoing capital improvements including new climate control systems, elevators and roofs, all installed in the past year. The campus offers additional amenities such as a full-service café and a free shuttle service that connects the property to the MetroPark transit hub three minutes away.”

Woodbridge Corporate Plaza is now at 85 percent occupancy. Remaining availabilities can accommodate tenants ranging from 1,500 to 25,000 square feet.

NJ Advance Media was represented by Douglas Elliman. NB Group Holdings was represented by Lee & Associates.

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