University Orthopedic Associates and White Oak Dental & Orthodontics Ink Leases at Newly Developed Two-Building Retail Complex
CBRE today announced two medical leases at a newly developed, two-building retail complex located at 1040 US Highway 1 in Avenel, Woodbridge Township, New Jersey. University Orthopedic Associates committed to a full-building lease of 13,435 sq. ft. and White Oak Dental & Orthodontics leased 2,477 sq. ft. of space at the properties owned by Alliance Holding Company of Woodbridge, LLC. Both tenants plan to move to their new space in early 2021.
CBRE First Vice President Steven Winters spearheaded the marketing campaign for the retail and medical complex and represented ownership in the lease negotiations. Andrew Perrotti and Jamie Drummond of Newmark Knight Frank represented University Orthopedic Associates, while Joseph Lombardi and John Masserano of Masserano Real Estate & Consulting represented White Oak Dental & Orthodontics.
“Both University Orthopedic and White Oak Dental chose this high-profile retail plaza due to its outstanding presence, visibility and access along Route 1 and the superiordemographics of Woodbridge Township,” said Winters. “We are pleased to have completed long-term leases for two successful medical tenants and now only have one remaining 2,125sq.ft unit available. The developer is looking for another medical tenant to bring 1040 Route 1 to 100 percentoccupancy.”
Totaling 18,235 sq. ft. of space, 1040 US Highway 1 is a two-building, retail and medical project that further contributes to the continued revitalization of this section of Route 1. In addition to the leasing team, CBRE Project Management assisted in the completion of the center and CBRE Property Management has been tapped to manage and operate the complex.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
