170 WOOD AVENUE SOUTH
ISELIN, NJ
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As exclusive agent, Cushman & Wakefield is pleased to offer a 100% fee interest in 170 Wood Avenue South for sale. This offering presents a value-add opportunity to acquire a vacant best-in-class, 239,452 square foot, Class A office building within one of New Jersey’s premier mass-transit serviced corporate parks, Metropark.
Ideally situated in the Metropark submarket, 170 Wood Avenue South benefits from having the best regional access in the state via road, rail, or bus. The Property is within a five-minute walk from Metropark NJ Transit Station, providing commuter rail (Amtrak and NJ Transit) and bus service to New York Penn Station (30-minute ride), as well as Acela service from Boston to Washington D.C. and all major cities in between. In addition, the Property sits directly off of the Garden State Parkway (Exits 131A/131B), and at the crossroads of the NJ Turnpike (I-95), Interstate 287, and Routes 1 and 440.
Developed in 2003, 170 Wood Avenue South is an eight story headquarter quality trophy asset designed by The Hillier Group and constructed by and for the Siemens Corporation. Siemens subsequently (2012) executed a ten-year sale leaseback for the building. The Property’s highly efficient design features 30,000+ SF center core floor plates designed for multi-tenant use, 45’ column spacing, 9-foot finished ceiling heights, a cafeteria, conference and training facilities, 24/7 security and a four-level parking garage. 170 Wood Avenue South was awarded the Energy Star Certification and is LEED Gold certified.
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AVAILABLE FINANCING
Due to the recent relocation and consolidation of Siemens within the park, the current loan has been extended and the lender has indicated a willingness to work with a new sponsor on restructuring the loan in order to facilitate the repositioning and stabilization of the asset.
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Park that Perpetually Outperforms
• Walking distance (10 minutes) to Metropark NJ Transit and Amtrack rail station and bus service
• Beneficiary of the state’s most significant labor intercept location via the Garden State Parkway, New Jersey Turnpike (I-95), Routes 1&9 and 440, and Interstate 287
• Metropark is located directly off of the Garden State Parkway Exits 131A and 131B
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Opportunity to Recapture & Reposition Highly Competitive Space in Metropark with Available Financing
• Metropark Class A occupancy has historically been one of the strongest in the state
• Class A rents have increased 15% over the past five years, and scarcity of quality space is expected to continue to drive rents
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Trophy Quality Headquarters
Office Tower
• 2003 vintage; designed by The Hillier Group architectural firm and built to Siemens Corporation’s high company standards
• LEED Gold Certification
• Four-story parking garage
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AMENITIES
Cafeteria, conference & training facilities, 24/7 security, and four-level parking garage
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PARKING
Total: 795 Spaces
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DAVID W. BERNHAUT
Executive Vice Chairman
+ 1 201 460 3356
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ANDREW J. MERIN
Executive Vice Chairman
+ 1 201 460 3358
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H. GARY GABRIEL
Executive Vice Chairman
+1 201 460 3352
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FRANK A. DITOMMASO II
Executive Director
+1 201 508 5303
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RYAN J. LARKIN
Senior Director
+1 201 460 3346
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JOHN ALASCIO
Vice Chairman
+1 212 841 9238
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CHUCK KOHAUT
Senior Director
+1 201 508 5219
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TJ SULLIVAN
Senior Director
+1 212 841 7977
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KEVIN CARTON
Managing Director
+1 732 452 6186
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PAUL GIANNONE
Executive Managing Director
+1 732 452 6184
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Cushman & Wakefield, LLC | Capital Markets
One Meadowlands Plaza, 7th Floor, East Rutherford, NJ
+1 201 935 4000
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© 2023 Cushman & Wakefield. All rights reserved. The information contained in this communication is confidential, may be privileged and is intended for the exclusive use of the above named addressee(s). If you are not the intended recipient(s), you are expressly prohibited from copying, distributing, disseminating, or in any other way using any information contained within this communication. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE. This e-mail may be considered advertising under federal law. |
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