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
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