News
Princeton Property Partners negotiates lease for Essential Properties Realty Trust at 15 Exchange in Jersey City
Sab Russo, President of Princeton Property Partners (aka Mercer Oak Realty) announced that his team had secured 4,000 sf of space at 15 Exchange on the Jersey City Waterfront for Essential Properties Realty Trust (EPRT), a publicly traded REIT on the New York Stock Exchange. The 11 story, 136,000 sf office building boasts spectacular, unobstructed views…
Princeton Property Partners negotiates acquisition of 950 Hamilton St in Somerset for Princeton Eye Group
Sab Russo, President of Princeton Property Partners (PPP) announced today that Princeton Eye Group has closed on 950 Hamilton St in Somerset for an undisclosed price. With offices in Monroe, North Brunswick, and Princeton, Princeton Eye Group (PEG) is the largest and most reputable Ophthalmology and Optometry practice in the region. The practice will relocate from its…
Princeton Property Partners represents Specialty Insurance Agency, Inc. for 12,554 sf relocation to Wall Twp
Sab Russo, President of Princeton Property Partners, and CFO Spencer Page announced today that Specialty Insurance Agency has signed a long term lease for 12,554 sf at Monmouth Shores Corporate Park in Wall Twp. “1350 Campus Parkway was an exceptional value for our client.” said Russo. “Specialty has been located in neighboring Brick Twp for 20…
Princeton Property Partners Negotiates the Sale of a 101 acre Parcel of Farmland in Upper Pittsgrove, NJ
Princeton Property Partners (PPP) has advised client GALA Farms (GALA) in the sale of a 101 acre parcel of farmland on Route 77 in Upper Pittsgrove, NJ. Formerly a peach orchard and blackberry vineyard, the land will be cleared for the new owner to farm ground crops. “I managed the picking crew in these orchards when I…
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…
Princeton Property Partners Negotiates the Sale of a 70 acre Parcel of Farmland in Upper Pittsgrove, NJ
Princeton Property Partners (PPP) has advised client GALA Farms (GALA) in the sale of a 70 acre parcel of farmland in Upper Pittsgrove, NJ (near the town of Elmer). Formerly a peach orchard, the land will be cleared for the new owner to farm ground crops. “PPP has been our broker for decades. They understand what we need…
Princeton Property Partners Obtains Site Plan Approval for 60 North Tulane Street in Downtown Princeton
Princeton Property Partners has obtained Site Plan Approval for a new multi-family/ mixed-use property in Downtown Princeton. The Princeton Planning Board has unanimously approved an application for development of 19 apartments and 1,400 square feet of office space at 60 North Tulane Street in Downtown Princeton. The property is two blocks from Nassau Street, the main street…
Princeton Property Partners Affiliate Acquires 172 Nassau Street in Downtown Princeton, NJ
An affiliate of Princeton Property Partners (PPP) has acquired a 100 year-old mixed-use property on Nassau Street in Princeton. Prior to the acquisition, PPP was able to complete a lease extension with CVS Pharmacy through 2034. PPP also plans to add value via a complete renovation of the 2nd and 3rd floor apartments. “This property is an ideal candidate to…
Property Partners Advises Adare Pharma in the Renewal of its HQ Lease at 1200 Lenox Drive in Lawrenceville, NJ
Princeton Property Partners (PPP) has advised client Adare Pharmaceuticals in the renewal of a its 11,000 square foot lease at Princeton Pike Corporate Center in Lawrenceville, NJ. PPP negotiated the company’s initial lease at the building back in 2015. “PPP was great. They really understood our needs and helped us to get the best possible deal at…
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…
Mercer Oak Realty Represents Universal Display in 88,000 SF Purchase
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…
2018 Market Report
Mercer Oak Realty, Princeton Property Partners & Princeton Property Management are proud to present our 2018 Market Report (click to download). See our take on latest trends in the market.
First Bank Expands in Hamilton New Jersey
First Bank Expands in Hamilton New Jersey Hamilton, NJ – Mercer Oak Realty, a leader in Princeton Area Commercial Real Estate, announces that First Bank has signed a long-term lease at 1395 Yardville Hamilton Square Road. First Bank will use the 11,000 sf as expansion space to house additional executive and administrative staff needs, adjacent…
2018 Central NJ Real Estate Forecast
The 5th annual Central Jersey Real Estate Forecast will be taking place on Friday, January 26th. This year promises to be a thoughtful and interesting event and will feature keynote speaker Jeffrey Otteau of the Otteau Group. Mercer Oak Realty’s CEO Aubrey Haines will join the panel, along with Judson R. Henderson Broker of Record/Managing Member, Callaway Henderson…
Five Ways To Spruce Up Spec Suites
For owners of office buildings, constructing “spec suites” as ready-to-occupy office spaces can be a no-fail way to attract tenants — if these spaces are designed well. Read full article here.
Large buildings may soon get report cards for energy efficiency
Just like restaurants post letter grades in their windows, large buildings may soon have to broadcast their energy efficiency ratings. Read full report here.
Growing tech firms now drive high-end office market from Seattle and SF to Manhattan
When F5 Networks signed a lease last spring for 28 floors in the Mark, a new 48-floor office and hotel edifice in downtown Seattle, the deal capped a hunt for new headquarters that in 2019 will provide the company with room to grow and its employees with nearby transit, restaurants and other amenities. Read the full report here.
Three Keys to a Successful Property Budget Review
A budget is your vision of an asset and a forecast of potential earnings. While creating a portfolio or property budget, our deniable need to put everything under the microscope to review and analyze blurs the view. Read the full report here.
New Jersey Sees 6.9% Unemployment Drop
New Jersey officials say the state unemployment rate dropped to 6.9 percent for April, its lowest level in more than five years. (read full story from The Trentonian here.)
AvalonBay officially files lawsuit against Princeton officials
PRINCETON — After giving Princeton attorney Trishka Cecil a heads-up phone call Tuesday afternoon, AvalonBay officially filed suit against the town, council, Mayor Liz Lempert and several municipal department heads today,hoping the court can intercede in environmental matters concerning the 280 residential units the developer is proposing for the former University Medical Center site. (read…
Pharma Companies Find Homes at PrincetonSouth
We are happy to announce over 21,000 sf of new tenants/expansions at 100 & 200 PrincetonSouth Corporate Center. Mercer Oak Realty has continued to lease-up space at PrincetonSouth in the past year and recently increased its Pharmaceutical industry tenancy with new leases by Celator Pharmaceuticals and Essential Pharmaceuticals. Existing tenant, Antares Pharma has also recently…
Join Us! Significant Incentives Available for Companies Staying In or Relocating To New Jersey
The GrowNJ program encourages companies to create jobs and make capital investments in the Garden State. By moving from Pennsylvania (or any other state) a 25 employee company could earn at least $750,000 in incentives money, while a 50 employee company could bring in a minimum of $1,500,000. New Jersey companies can also benefit from…
Airport Corporate Park now 70% occupied
Mercer Oak Realty is happy to announce a recent lease transaction at 100 Airport Corporate Park. Horizon NJ Health, a subsidiary of Horizon Blue Cross Blue Shield of New Jersey, has leased 23,145 sq. ft. of office space at Building 100 in Airport Corporate Park, bringing the company’s total space occupancy at the park to…
Construction Begins on Hill Wallack LLP's New Building
Mercer Oak Realty is proud to announce that Hill Wallack LLP has begun construction on their new office building at 21 Roszel Road in West Windsor. Mercer Oak Realty represented Hill Wallack LLP in the 48,000 sf lease. This new location will accommodate Princeton-based Hill Wallack LLP’s growing workforce and re-invent their office’s work environment,…
Princeton Law Firm Signs 22,000 sf Lease
We are happy to announce that our client, Archer & Greiner, has signed a long-term lease with Boston Properties for 22,000 sf at 101 Carnegie Center in Princeton, NJ. The 22,000 sf at 101 Carnegie Center gives Archer & Greiner space to expand their operations and offers a more client friendly meeting space and conference…
Haines chats with The Times of Trenton about the Mercer County Office Market
Aubrey Haines spoke with Brendan McGrath of The Times of Trenton about the Mercer County Commercial Real Estate market. Despite the success of the building and the current strength of the market, local development of large commercial office buildings has been slow to pick up coming out of the recession. There has been little new…
Aubrey Haines Presents 2014 Real Estate Forecast
Princeton Office Market to experience Class A Space Shortage Mercer Oak Presents Princeton Office Market Report Princeton, NJ – Over 160 Real Estate professionals from the Princeton Market gathered on Tuesday January 28 at the Hyatt Regency to discuss the 2014 Real Estate Forecast. Mercer Oak’s Aubrey Haines presented The Princeton Office Market Report and…