Ivy Hires NKF to Lease 91,000-SF Office Park

WOODBRIDGE, NJ-Ivy Realty Services has hired Newmark Knight Frank as exclusive leasing agent for its Aspen Corporate Park, a 91,000-sf office complex here. Robert Dinner, senior managing director and managing director Kevin Carton of NKF’s local office are heading the assignment.

“The buildings are opposite the Woodbridge Center shopping mall,” Dinner says. “Signage opportunities also create a high visibility factor, and common area renovations are under way.”

Those renovations, costing approximately $1.5 million, were launched late last year by Ivy Realty Fund I LP and its joint venture partner, Meritage/Oppenheimer Real Estate Value Partners I LP. The partners bought the complex this past September and recapitalized in November.

The property consists of two three-story office buildings of 45,500 sf each, built in 1983. Located at 1460 and 1480 US Route 9 North, the complex currently has a total of 25,000 sf available in units ranging from 2,700 sf to 13,000 sf, according to Dinner. Major tenants include A&E Mortgage Co., Cornerstone Management Solutions and Tax Technology Inc.