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Author: caitie

Have you met our affiliate, Princeton Property Management?

Written by caitie on . Posted in Uncategorized.

PPP web announcement

Princeton Property Partners (PPP) is pleased to announce the recent addition of a senior manager and formation of Princeton Property Management (PPM), an affiliate company that primarily concentrates on project and construction management.

Eric McHugh, a 20 year property and construction management veteran, joins PPM as Vice President. Most recently Mr. McHugh managed a 1,000,000 sf office and flex portfolio, overseeing tenant and capital improvement projects, developing budgets and aiding in leasing transactions. He has worked with landlords and tenants of all sizes, from publicly traded REITs to family-owned investment groups. During his tenure, Mr. McHugh consistently delivered quality projects on time and within budgets while simultaneously managing large portfolios, tenant relations and a team of technicians, contractors and office administrators.

“We are very excited to add Eric to our team. As our project and construction management business has grown, we have searched for a senior level manager that we felt could not only manage the same high quality projects PPP strives to be a part of, but also grow the already expanding property and construction management business line and continue to raise the bar for our clients.” explains Hans vanTartwijk, a Partner at PPP.

Princeton Property Partners will continue to work on investment and development projects in the Princeton region as Princeton Property Management focuses on construction and property management assignments.

New to Market: 10,000 sf Office

Written by caitie on . Posted in Announcements, Clients, MOR.

275 Phillips Lobby Span

Mercer Oak Realty is proud to list +/10,000 sf of office space at Princeton Crossroads Corporate Center!

Princeton Crossroads Corporate Center is located at 275 Phillips Boulevard in Ewing, NJ. The building has easy access to/from 95- right at Exit 4 for Route 31 & boasts recently renovated common areas.

The location is great for a commute from the NJ or PA side of the river. Not only are local amenities abundant in Pennington, Lawrenceville, Hopewell and Ewing- but the building is also quite close (10 minutes) to Route 1 amenities (without dealing with the traffic during peak drive-time). The SpringHill Suites Marriot is within walking distance and the Trenton-Mercer Airport (Frontier Airlines) is a 5 minute drive, making business travel a breeze. If getting to Philadelphia is a concern, jump on 95 right next to the building for a straight shot into the city in 45 minutes.

Exterior offices, interior offices, open bullpen space and a kitchenette make up the approximately 10,000 sf space. Oversized windows and an 11 foot ceiling add a bright quality office.

Please see our property listing on the Properties page for more information, photos and a flyer.

The Sustainable Office: A peek into the modern changing office

Written by caitie on . Posted in Around Central New Jersey, Events.

We were very happy to attend the Princeton Chamber of Commerce’s “The New Way of Work” event put together by the Real Estate Business Alliance yesterday morning.

The panel discussion, along with breakfast & networking, was held at the Springdale Golf Club in downtown Princeton.

Featured speakers included Brian Marrs (Manager, Policy & Strategic Sustainability) & Bill Walsh (Director of Corporate Facilities) at NRG Energy and our friend Marlyn Zucosky (Partner & Director of Interior Design) at Joshua Zinder Architecture + Design.

Mr. Marrs & Mr. Walsh excitedly shared a sneak peak of what NRG’s new Princeton building, located on Route 1 in Carnegie Center, will include. The 130,000 sf building will serve as NRG’s new headquarters and is a mix of sustainable design elements for the sake of the environment and also experiments of NRG initiatives. Learn more about all of the features of the project on NRG’s website, here.

Ms. Zucosky discussed trends they are currently seeing in office space design: layouts that allow for more natural light into the center of the floor plan, open work spaces, huddle areas, game room and other elements to attract Millennials to companies. Mr. Walsh commented that many of the trends JZA+D has been noticing are in fact being employed within the new NRG building. Check out some of JZA+D’s projects here.

$120M public-private development partnership nears completion

Written by caitie on . Posted in Around Central New Jersey, News.

The College of New Jersey and PRC Group took on the challenge of creating Campus Town, a $120 million mixed use development project, in Ewing, NJ.

Campus town will include 612 upscale apartments for students and also a 11,400 sf fitness center, restaurants (such as Panera Bread,  Mexican Mariachi Grill and more) and retailers (Barnes & Noble/Starbucks and more) open to both the students and the public. It will also be an attractive amenity package for workers who spend their days in the 1 million square feet of office space less than a mile away on the I-95 Corridor.

The project will create a richer environment for the students, but will also be a boon to the community as well, creating what Curt Heuring, VP for Administration of TCNJ, calls the “perfect interaction space” for both groups.

For more details please read the full story here.

What Ewing Business is Getting a $2.125M Boost?

Written by caitie on . Posted in Around Central New Jersey, News.

The Trenton-Mercer Airport, located in Ewing, NJ, will be receiving $2.125 million as part of a state grant program specifically created to add value to New Jersey’s airports through improvement projects. County Executive Brian Hughes says “I think this recognizes that the Trenton-Mercer Airport is of regional importance.”

The Trenton-Mercer Airport is home to Frontier Airlines, who has flown out of Ewing since 2012.

Read the full story here.

Companies Want Quality

Written by caitie on . Posted in Around Central New Jersey, News.

The Princeton market is seeing a trend- companies moving to new space not because they need to expand, or shrink- but because they want an upgrade. Current building stock, an uptick in the economy in general and the need to create a work environment that will attract quality talent are all helping to herd companies toward higher quality buildings. Landlords with lower rental rates are helping, too.

Read the full story on njbiz.com.

Glut, defunct & stranded: What do these words describe?

Written by caitie on . Posted in Around Central New Jersey, News.

NJBiz uses these words (in the article linked below) to describe suburban corporate campuses in New Jersey- with enough combined square footage to fill five Empire State Buildings.

PlanSmart NJ has taken on the task of developing a “toolkit” of sorts for municipalities to begin to deal with the 14.5 million square feet of vacant, obsolete office and/or lab space in 94 of the state’s largest (over 200K sf) buildings. These campuses that dot New Jersey’s suburban landscape are often referred to as “stranded assets” and will need some creative thinking to reposition them.

“We’re looking at it holistically — that this is an economic development project, it’s an environmental protection project, it’s a resource efficiency project,” said Ann Brady, PlanSmart NJ’s executive director. “We think there’s a lot of opportunity with these sites, to better connect them to the greater community, to use the infrastructure that’s already there, so we’re directing growth to areas where there’s already existing infrastructure.”

Oftentimes municipalities fear redevelopment, rezoning and mixed-use projects. PlanSmart NJ “hopes to frame the issue by quantifying the problem” with “a major two-year research project that will compile data on vacancy, demographics, property tax appeals and other metrics related to the sites, with the aim of creating a guidebook for local officials and sparking a policy change that could help them find new life as mixed-use assets”.

Read more in NJBiz.com here.