Tishman Speyer has expanded its office portfolio with the recent purchase of Metropark Corporate Center, a three-building property in Woodbridge, N.J.
A joint venture between Rockwood Capital and Ivy Equities sold the complex for an undisclosed price.
The property, which was 100 percent leased at the time of sale, includes a nine-story, 480,000-square-foot office tower completed in 2000; a three-story, 280,000-square-foot office building that opened in 1976 and was renovated in 2001; and a single-story, 150,000-square-foot storage facility constructed in 1982. The property also features a three-story parking structure and two surface lots that combine to provide more than 2,900 on-site parking spaces.
Tishman Speyer owns and/or manages more than 80 million square feet worldwide, representing more than 120 office buildings and more than 11,200 residential units.