KBS Sells Woodbridge Corporate Plaza Office Complex in Iselin, New Jersey, for $88M
ISELIN, N.J. — California-based investment firm KBS has sold Woodbridge Corporate Plaza, a 629,189-square-foot office complex in Iselin, located in the northern part of the Garden State, for $88 million. Kevin Welsh, Brian Schulz, Jason Emrani, Maria Betancourt and Jamie Drummond of Newmark represented KBS, which originally purchased the asset in 2005 and implemented a multimillion-dollar renovation program, in the transaction. Amenities include a 6,000-square-foot fitness center, full-service café and shuttle service to the nearby Metropark transit hub. The buyer was New York-based Northeast Capital Group. The six-building property was 90 percent leased to a roster of 64 tenants at the time of sale.