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200 S Wood Ave, Woodbridge ...

Crédit Agricole CIB Leases 12,800 Square Feet At 200 S Wood Ave With Tenant's Rep Charlie Dillon
LEASEDOffice

Crédit Agricole CIB Leases 12,800 Square Feet At 200 S Wood Ave With Tenant's Rep Charlie Dillon

200 S Wood Ave, Woodbridge Townshi...

Building Size

12,800 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property involved in this transaction is located at 200 S Wood Ave, Woodbridge Township, within the Middlesex market. It encompasses a total of 12,800 square feet and is being leased to Crédit Agricole CIB, the corporate and investment banking arm of the Paris-based Crédit Agricole Group. The deal is part of SJP Properties' efforts to reposition the 270,000-square-foot office building in the Metropark submarket.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 200 S Wood Ave, Woodbridge Township
  • Market: Middlesex
  • Tenant: Crédit Agricole CIB
  • Tenant's Rep: Charlie Dillon - JLL
  • Landlord: SJP Properties
  • Square Feet: 12,800

The deal was facilitated by the CBRE team of Jonathan Meisel and Wes Moore, representing SJP Properties. Peter Bronsnick, SJP's New Jersey region president, indicated that the property features resilient and efficient infrastructure, highlighting its appeal for Crédit Agricole CIB's operations. Additionally, the site offers convenient access to major transport routes, which is beneficial for the tenant's New Jersey-based employees.

Players

Charlie Dillon

JLL

Broker

2 deals

Broker
CBRE
CBREBrokerage
SJP Properties
SJP PropertiesLandlord

Middlesex Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93