February 13, 2020
SJP Properties acquired 200 Wood Ave., S., a 270,000-square-foot, Class A office building in Woodbridge, NJ, for a reported $25 million. The new ownership plans an extensive modernization.
“We continue to study the New Jersey market, and are strategically expanding our portfolio in prime locations that benefit from the ongoing migration of companies to areas that offer superior access to labor and transit,” said Steven J. Pozycki, CEO of SJP Properties. “We look forward to maximizing the value of this opportunistic acquisition.”
The repositioning plans include all-new finishes, building systems and an amenity package with a state-of-the-art fitness center, improved conferencing facilities and dining center, and collaborative indoor and outdoor areas, says SJP. The company is working with the CBRE team of Jon Meisel and Wes Moore to oversee leasing at the property.
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