The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2 billion, previewed its future state-of-the-art, LEED certified 105,000-square-foot, five-story premier office building located at 186 Wood Avenue in Iselin, N.J. at a luncheon on October 14, 2009. The event drew more than 150 commercial real estate brokers who toured the existing facility and viewed renderings of the renovated building, which will be called CENTRA at Metropark. Mayor John E. McCormac of Woodbridge Township, N.J. was also in attendance.
The Hampshire Companies plan to redevelop the site through a phased strategy approach which includes taking the existing building of 98,500 square feet down to the steel, completely renovating it and expanding it approximately 8,000 square feet. The expansion of the existing building will create a Class A office building with floor to ceiling glass, sunken gardens, and a full amenity package. Construction will begin in late fall 2009 and is slated for completion in 2010. The site also provides capacity to build up to 640,000 additional square feet, which Hampshire will look to develop over time.
Situated on more than 19 acres, CENTRA is ideally located within the heart of Metropark, offering close proximity to New Jersey Transit, The Garden State Parkway, New Jersey Turnpike, I-287 and Routes 1 and 27 and Newark International Airport.
"This is an exciting project for our community," said Woodbridge Township (N.J.) Mayor John E. McCormac. "Woodbridge is one of the few towns in the state experiencing commercial growth and business expansion. The LEED certification of CENTRA is consistent with our commitment as a township to protect our environment. We support this project as well as Hampshire's vision to bring America's newest business park to Woodbridge."
“While the development of commercial space has halted across the state, Hampshire has the unique vision to act on this opportunity and the means to deliver what will be one of the most sought after office spaces in the state,” added Kim Stirba, Investment Manager for The Hampshire Companies. “We are grateful to Mayor McCormac and to the town of Woodbridge for its support of this project and we remain committed to providing tenants with premier, environmentally-friendly office space.”
Hampshire has enlisted renowned architect Kohn Pederson Fox Associates PC (KPF) to re-design the building. Robert Rudin, Edward Duenas, Jeremy Neuer, and Joseph Sarno of Cushman & Wakefield are the exclusive leasing agents for the property.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments.