June 30, 2020
Mercer Oak Realty Negotiates 13,450 SF Lease with Essential Property Realty Trust
Mercer Oak Realty announced today that they negotiated a long-term lease for 13,450 SF on behalf of Essential Properties Realty Trust (NYSE: EPRT). EPRT will relocate its Headquarters to 902 Carnegie Center in Princeton. Sab Russo, President of Mercer Oak represented EPRT. Peter Hedley of Hilton Realty represented the owner of 902 Carnegie. This is the second lease transaction Russo has negotiated on behalf of EPRT.
This trophy building is considered the premier corporate address in the Princeton Market. Essential Properties will occupy half of the top floor of 902 Carnegie Center, with breathtaking views of Princeton University. Constructed in 2007, 902 Carnegie is a 150,000 SF, five-story building and is part of a 500,000 SF portfolio of Class A Office buildings owned and managed by Hilton Realty in the Princeton Market.
Essential Properties acquires, owns and manages primarily single-tenant properties leased to middle-market companies operating service-oriented and experience-based businesses.
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.
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