With market conditions apparently improving, the project is on once again, and the locally based Atlantic Realty has given the exclusive leasing assignment to Jones Lang LaSalle. The assignment, which covers the new construction as well as the existing 90,000-sf MetroTop I building, is being led by Paul Giannone, executive vice president, and Kevin Carton, vice president of JLL's local office, along with Frank Doyle of the firm's New York City office. The complex is located at 111-115 Wood Ave. South here.
"The fact that phase two of MetroTop will start construction this summer as a speculative project is an indication that the commercial real estate industry is thriving in the Metropark area of the Woodbridge/Edison submarket," Giannone says. "We are seeing a high demand for class A office space as the market expands, and we anticipate that this property will elicit a strong response from corporate tenants in New Jersey and in Manhattan."
When completed, the second phase will connect with the existing building via a glass-enclosed atrium. Among the features of the new building will be dual power grids designed to accommodate multiple tenants requiring uninterrupted power supply and back-up generators. Other features will include a cafeteria, fiber optics and a parking deck.
Located off Exit 131 of the Garden State Parkway, MetroTop is near the Metropark Hilton Hotel. Corporate neighbors include Prudential, Siemens, Microsoft, Ernst & Young and St. Paul Travelers. Going back a few decades, the existing MetroTop I was an Eastern Airlines reservation center before that airline disappeared from the map through merger and the building was converted to multi-tenant use.
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