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News release

EAST RUTHERFORD, NJ

JLL Secures 59,375 SF for BASF at 33 Wood Avenue South in Iselin, NJ

Chemical company to occupy four floors at Class A 137,400-SF building; consolidating into facility from 2 other locations in New Jersey


EAST RUTHERFORD, N.J., May 21, 2015 — JLL recently completed a new, direct lease for BASF Corp. at 33 Wood Avenue South in Iselin, N.J., with Metro Park Associates LLC. The chemical company inked a long-term lease for 59,375 square feet at the Class A, 137,400-square-foot office building.

BASF was represented by Robert Ryan, senior vice president, along with Daniel Loughlin, managing director and brokerage lead for New Jersey, and Mark Siegler, executive vice president, all with JLL. The team worked closely with David Willison, national director of real estate and facilities for BASF. Building owner Metro Park Associates was represented by Jonathan Meisel, managing director, and John Kaye and Peter Politi, vice presidents, all with JLL.

“BASF sought to consolidate its office presence for its Catalyst Division in Metropark New Jersey into one facility and engaged JLL to evaluate its options,” said Ryan. “With Willison’s input and feedback from the user group we determined that 33 Wood Avenue South best met the company’s needs after thoroughly evaluating existing and build-to-suit opportunities in the market. JLL successfully negotiated a long-term lease that satisfied all of BASF's criteria, including critical branding needs.”

BASF will occupy a portion of the first and the entire second, third and fifth floors at 33 Wood Avenue South. The global chemical firm is consolidating into the property from a BASF-owned facility at 25 Middlesex-Essex Turnpike and from 101 Wood Avenue South, both in Iselin.

Scott Lesh, managing director, with JLL's Project and Development Services group, and Dana Schneider, senior vice president, with the firm’s Energy and Sustainability Services team worked in conjunction with the brokerage team to evaluate the infrastructure of possible locations for BASF. PDS will manage all aspects of BASF's build-out, incorporating ESS technology and standards to ensure the client’s space achieves certification as a Leadership in Energy and Environmental Design Commercial Interior.

The building owner has nearly completed a multimillion dollar capital improvement program at the eight-story 33 Wood Avenue South, which is located near the intersection of Thornall Avenue, Wood Avenue South and Middlesex Essex Turnpike, a few blocks from Exits 131A and 131B on the Garden State Parkway. The renovations include a new, one-inch glass curtain wall that will greatly increase thermal efficiency, new HVAC new accent branding on the façade, new common areas, a new lobby, a renovated café and a fitness center with locker rooms.

JLL is a leader in the northern/central New Jersey commercial real estate market, with nearly 800 professionals and support staff providing agency leasing, tenant representation, industrial services, strategic consulting, project and development services, property management and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from three full-service offices in Parsippany, Iselin (Metropark) and East Rutherford, also acts as local service provider for JLL global and national corporate clients in need of real estate assistance in New Jersey. JLL’s New Jersey operations were honored by NJBiz magazine as one of its 2015 Best Places to Work in New Jersey.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.