JLL announced today that it has completed the sale of 1 Corporate Drive, an 18,000-square-foot office building on 2.77 acres in Wayne, New Jersey. JLL represented US Alliance Financial Federal Credit Union, USALLIANCE Financial, in the sale of the property to the Retina Center of New Jersey.
The JLL New Jersey team overseeing the sale included executive managing director Frank D. Recine and senior vice president Derek DeMartino. Retina Center of New Jersey was represented by Philip J Kreizer & Associates.
“This is an ideally located property with flexible zoning and high visibility,” Recine said. “The transaction enabled the property owner to monetize the asset while maintaining its presence in the building. At the same time, the new owner gains a facility that is uniquely suited to support its business.”
The two-story building was constructed in 2005 as the headquarters for USALLIANCE Financial Federal Credit Union, which will retain its branch retail footprint in the property. Retina Center of New Jersey, which has five locations in northern New Jersey specializing in diseases and surgery of the retina, vitreous and macula, will occupy the property for office and outpatient care.
The building, which features 75 parking spaces, offers high visibility at the intersection of Corporate Drive and Riverside Drive, with easy access to Route 80, Route 46 and Route 23. It is located in close proximity to Route 287, Garden State Parkway and NJ Turnpike, and to New Jersey Transit buses and trains.
JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,260 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility management, and investment sales/capital markets debt and equity services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from five full-service offices in Parsippany, Iselin (Metropark), Princeton, Morristown and East Rutherford, also acts as a local service provider for JLL’s global and national corporate clients in need of real estate assistance in New Jersey. NJBiz ranked JLL’s New Jersey operations as the No. 1 commercial real estate brokerage in the Garden State in 2020.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
