SJP Properties Inks Lease with Siemens

SJP Project Solutions will execute a custom interior build-out to accommodate the needs of Siemens’ multi-division workforce
Staff Reporter | USA | PropTech

SJP Properties has inked a deal with industrial technology company Siemens for 65,500 square feet of office space within the amenity-rich campus. In addition to a variety of on-site lifestyle amenities and a suite of hospitality-inspired, concierge-style services, 200 Wood Avenue South offers high-end, light-filled workspaces with access to abundant outdoor space, as well as a strategic location proximate to a variety of transit options in the Metropark area.

With this lease at 200 Wood Avenue South, Siemens will maintain its presence in Metropark, which sits at the convergence of several key highways, train routes, and local thoroughfares that provide access to labor from across the state of New Jersey. Siemens will join a national insurance carrier, international transport company DSV, and globally ranked financial services company Credit Agricole — all of which have established offices at 200 Wood Avenue South since SJP acquired the building in early 2020.

“In an environment where companies are fiercely competing for talent, 200 Wood Avenue South is attracting growing, world-class institutional tenants that see this building as an asset in their ability to recruit and retain a top-notch workforce,” said Alexander Erdos, Senior Vice President – Leasing & Marketing, at SJP Properties. “Forward-thinking companies such as Siemens are a prime example of the interest we’re seeing in not just Metropark, one of the strongest and most ideally-located submarkets in New Jersey, but also in this particular property with its top-of-the-line amenities, outdoor spaces, work areas, and infrastructure.”

SJP Project Solutions, SJP’s third-party construction management platform, will execute a custom interior build-out to accommodate the needs of Siemens’ multi-division workforce. Siemens will begin occupying its new space at 200 Wood Avenue South in Q3 of 2022. Jeff Babikian with CBRE represented Siemens, while Wes Moore of CBRE represented SJP.

“We’re happy to work with SJP Properties to secure a lease for this office space as Metropark has been an excellent location for our employees for more than 50 years, namely due to the site’s commuting advantages and accessibility to major highways and railways,” said Michael Huber, Head of Siemens Real Estate Americas.

Upon acquiring 200 Wood Avenue South, SJP executed a comprehensive strategy to reposition the property, paying homage to its postmodernist architecture with a complete interior and exterior renovation, as well as new building systems and indoor/outdoor lifestyle amenities. Siemens employees will be able to enjoy the building’s brand new lobby, state-of-the-art fitness center, and collaborative common areas, including landscaped outdoor meeting areas, nationally recognized food operators within the on-site dining area, and ample on-site parking. SJP is also providing its signature hospitality and concierge services as part of its property management offering.

Leasing opportunities totaling 25,000 square feet are currently available at 200 Wood Avenue South. Additionally, for tenants seeking a private outdoor area for employees, SJP has created a landscaped open green space — the only space of its kind within New Jersey — that is available exclusively for a future tenant to customize into a private patio, outdoor lounge, dining area, or garden conferencing space with SJP’s build-out capabilities.

“The level of leasing activity we’ve seen at 200 Wood Avenue not just today, but throughout the pandemic, is a case study in what companies are seeking for their employees and base of operations,” Erdos noted.

Spanning 270,000 square feet, 200 Wood Avenue South offers the ability to attract and retain New Jersey’s top talent where the labor markets converge and are within walking distance to the Metropark Train Station, which offers NJ TRANSIT and Amtrak Acela services. 200 Wood Avenue South is also conveniently located near the cross-sections of Lincoln Highway, Middlesex Turnpike, and the Garden State Parkway.

The building has resilient and efficient infrastructure, featuring a base-building UPS system, two 1,500 kilowatt power generators, and upgraded mechanical systems — including air filtration upgrades for improved air quality to create a healthier environment for employees.