Enterprise Iron has represented in the transaction by Gavin Daniel, vice president of the West Orange, NJ-based Sheldon Gross Realty. Owner SMIII Woodbridge Plaza LLC, an affiliate of the Newport Beach, CA-based KBS Realty Advisors, was represented by GVA Williams New Jersey, Parsippany. Terms of the long-term lease were not released; availabilities in the building are currently listed with an asking price of $25 per sf plus tenant electric.
"The location is great for many of Enterprise Iron's employees, who enjoy working so close to the many amenities along Route 1," Daniel says.
The KBS affiliate has owned Woodbridge Corporate Plaza for just more than three years, having acquired it in early 2005 from Corporate Plaza Associates for a reported $85.6 million.
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