June 16, 2023
Property Partners Advises Mercer Street Friends in the Acquisition of its new Warehouse/ HQ Building at 3 Graphics Drive In Ewing, NJ
Princeton Property Partners has advised client Mercer Street Friends in the acquisition of a new 42,000 square foot building that will house its growing warehouse needs and provide expanded space for its headquarters staff.
Mercer Street Friends is a Quaker affiliated, social service nonprofit that helps to lead the battle against food insecurity in Mercer County. It is part of the nationwide Feeding America network of Food Banks and the only one in New Jersey that did not own its warehouse facility. Through the pandemic it became apparent that Mercer Street Friends needed more space than its leased warehouse of 25,000 square feet could provide.
Mercer Street Friends retained Princeton Property Partners in 2022 to seek out properties that could satisfy its expansion needs. Several development sites as well as existing buildings were identified and examined to determine the potential cost and completion schedule. Princeton Property Partners worked with Mercer Street Friends, its architects and legal representatives to provide due diligence on each of the properties. The zoning, physical condition, configuration and mechanical, electrical and plumbing systems were all examined and Princeton Property Partners negotiated with the property owners to obtain the best price and terms on behalf of Mercer Street Friends.
Ultimately, 3 Graphics Drive was selected as the ideal location and building for Mercer Street Friends’ needs. “We couldn’t have found a better property for our growing needs” said Bernie Flynn, CEO of Mercer Street Friends. James “Butter” Allen added: “I needed more space – both floor space and headroom – to make the operation function in an optimal way. This facility is the perfect solution to our needs”. “We were honored to be a part of a really special team and created relationships that I expect will last the rest of my life. I am proud to be part of the Mercer Street family” said Aubrey Haines, CEO of Princeton Property Partners . Zac Anglin, Director at Princeton Property Partners added, “Bernie, Butter and the Mercer Street Friends team really understood what they wanted and were great to work with”.
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.
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