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Month: May 2020

Princeton Property Partners Negotiates the Purchase of a 32,000 sf School Facility for Newgrange and Laurel Schools in Hopewell, NJ 

Written by Tom McManimon on . Posted in Announcements, Around Central New Jersey, News, Uncategorized.

Princeton Property Partners (PPP) has advised client Newgrange and Laurel Schools in the purchase of a 32,000 square foot building at 800 North Road in Hopewell, NJ.  PPP worked with the Schools’ legal team to obtain a variance to use the property as a school.  Then, during Covid, PPP managed a significant reconstruction of the building to convert the former daycare facility into classrooms that match the needs of the Schools.

“School conversions are always a challenge because most existing properties/ buildings are not suited to the use and configuration needs of the client” said PPP’s CEO Aubrey Haines.  “In this case we had a building with great bones and we were able to utilize almost all of the critical infrastructure.”  

About Princeton Property Partners:

Princeton Property Partners (PPP) is a vertically integrated, Princeton-focused commercial real estate family of companies. Established in 2001, the firm is led by partners Aubrey Haines, Sab Russo and Spencer Page.  Service lines include Development & Investment, Commercial Brokerage, Consulting, Advisory Services and Property & Construction Management.  PPP consistently ranks as one of the top development firms in Princeton.  Its commercial brokerage operation is also #1 or #2 in the market based on transaction value and square footage leased/sold. The firm has over 500,000 sf under management, making PPP one of the largest third-party property managers in the Princeton Market.

Mercer Oak Realty Negotiates 30,000 SF Lab Sublease with CSPC in Ewing

Written by Asenka on . Posted in Announcements, Clients, News.

The third largest pharmaceutical company in China, CSPC, has consolidated several US operating divisions into 801 PrincetonSouth Corporate Center in Ewing, NJ.

Mercer Oak Realty and CBRE worked on behalf of CSPC to secure an 11-year sublease for 30,000 sf with DuPont, who was represented by JLL.

This Class A, 56,000 square foot biology lab building was originally constructed in 2009 by Opus Development for FMC and is located at PrincetonSouth Corporate Center at Route 31 and I-295 in Ewing.

The building features state-of-the-art biology lab infrastructure and became available after DuPont’s acquisition of FMC’s Biopolymer division.

 

About Mercer Oak Realty, LLC:

Mercer Oak Realty (MOR) is a vertically integrated, Princeton-focused commercial real estate services firm. Established in 2002, the firm is led by Aubrey Haines (20 years at Jackson Cross/Trammell Crow) and Sab Russo (20 years at CBRE). Service lines include Commercial Brokerage, Consulting and Development/Advisory Services. MOR consistently ranks as one of the top firms in Princeton market share in terms of transaction value and square footage leased/sold. Through Princeton Property Management, MOR’s affiliate, the firm has over 400,000 sf under management making PPM one of the largest third-party property managers in the Princeton Market.

Mercer Oak Realty Negotiates 3,969 SF Office Sublease with Frauscher Sensor Technology at Roszel Square in W. Windsor

Written by Asenka on . Posted in Announcements, Clients, News.

Frauscher Sensors Technology, the Austrian based Rail Services company, has signed a long-term sublease for 3,969 SF at 21 Roszel Rd, West Windsor, NJ.  Frauscher provides industry-leading wheel sensors and axle counters to monitor rail traffic for passenger, freight and mass transit applications.  Frauscher will relocate its North American Headquarters to 21 Roszel Rd in Carnegie Center and expects to occupy in September.

Mercer Oak Realty represented both Frauscher and the Sublessor to complete the transaction.

21 Roszel, a Class “A” 62,500 SF, three-story office building was constructed in 2015 by a partnership between Gottesman Real Estate Partners and Mountain Development as a build-to-suit for Hill Wallack, who has naming rights and occupies the top two floors.  21 Roszel is the first building of this approved two-building complex and boasts a fitness center and grab-and-go café.  Sister Building, 38,000 SF 19 Roszel Square, will feature a full-service cafeteria and rooftop terrace.

About Mercer Oak Realty, LLC:

Mercer Oak Realty (MOR) is a vertically integrated, Princeton-focused commercial real estate services firm. Established in 2002, the firm is led by Aubrey Haines (20 years at Jackson Cross/Trammell Crow) and Sab Russo (20 years at CBRE). Service lines include Commercial Brokerage, Consulting and Development/Advisory Services. MOR consistently ranks as one of the top firms in Princeton market share in terms of transaction value and square footage leased/sold. Through Princeton Property Management, MOR’s affiliate, the firm has over 400,000 sf under management making PPM one of the largest third-party property managers in the Princeton Market.

J. Knipper Company Extends Lease at 1009 Lenox Drive in Lawrenceville

Written by Asenka on . Posted in Announcements, Clients, News.

Sab Russo, President of Mercer Oak Realty, announced today that MOR, in conjunction with The Flynn Company of Philadelphia, has extended J. Knipper Company’s 23,000 sf lease at Princeton Pike Corporate Center.

Knipper Company is one of the largest pharmaceutical direct marketing and drug sampling firms in the US.

Mercer Oak Realty and Flynn represented Knipper in this long-term lease extension, while Newmark Knight Frank represented the Landlord.

 

About Mercer Oak Realty LLC:

Mercer Oak Realty (MOR) is a vertically integrated, Princeton-focused commercial real estate services firm. Established in 2002, the firm is led by Aubrey Haines (20 years at Jackson Cross/Trammell Crow) and Sab Russo (20 years at CBRE). Service lines include Commercial Brokerage, Consulting and Development/Advisory Services. MOR consistently ranks as one of the top firms in Princeton market share in terms of transaction value and square footage leased/sold. Through Princeton Property Management, its affiliate, the firm has over 400,000 sf under management making PPM one of the largest third-party property managers in the Princeton Market.

Mercer Oak Realty Represents Universal Display in 88,000 SF Purchase

Written by Asenka on . Posted in Announcements, Clients, MOR, News.

Sab Russo, President of Mercer Oak Realty, announced today that Universal Display Corporation (UDC) had acquired two single story office buildings to accommodate its expansion in Ewing, NJ.

UDC, the creator of OLEDs (Organic Light Emitting Diodes) used in newer flat screen TVs, cell phones, as well as cutting edge lighting applications, acquired the adjoining assets in two separate transactions.

Mercer Oak represented UDC and negotiated the sale of both 250 Phillips Blvd. in Ewing (40,000 sf), and 300 Phillips Blvd. (48,000 sf).  Steve Tolkach of Newmark Knight Frank represented the seller of 250 Phillips while Tom Romano of JLL represented 300 Phillips Blvd.

Mercer Oak Realty’s affiliate, Princeton Property Management, will manage the assets for UDC.

About Mercer Oak Realty LLC:

Mercer Oak Realty (MOR) is a vertically integrated, Princeton-focused commercial real estate services firm. Established in 2002, the firm is led by Aubrey Haines (20 years at Jackson Cross/Trammell Crow) and Sab Russo (20 years at CBRE). Service lines include Commercial Brokerage, Consulting and Development/Advisory Services. MOR consistently ranks as one of the top firms in Princeton market share in terms of transaction value and square footage leased/sold. Through MOR’s affiliate, Princeton Property Management, the firm has over 400,000 sf under management making PPM one of the largest third-party property managers in the Princeton Market.