News
5 Areas to Focus on for Better Workplace Productivity
A new study shows just how impactful a poorly planned workplace is on employees, which can negatively impact performance. Read full report here.
New BOMA Standard: What Size Is Your Office Building Really?
Need more proof that the way millennials work is impacting office real estate? Read the full report here.
Why Retail Landlords Are Turning to Apartments to Shore Up Their Properties
Construction has started on a 23-story upscale apartment tower at Westfield UTC, a one-million-sq.-ft. outdoor center in San Diego, but the project is much more than the redevelopment of an upscale retail center owned by the Sydney, Australia-based Westfield. Read the full report here.
Save Big with Three Tips for More Efficient Vendor Management
Managing vendors and processing payables are significant cost drivers for real estate companies. Read the full article on irem.org
Are Low Interest Rates Always Good for the Real Estate Market?
The Federal Reserve raised interest rates in June, signally that government leaders think the economy is gaining strength. The latest hike is being met with mixed responses. Read the full report here.
Company gets $12M in tax credits to move 5 miles away
Billtrust, a provider of outsourced billing services, has announced plans to move its headquarters to Lawrence, just 5 miles from its current home in Hamilton, after receiving more than $12 million in tax credits from the state. Read the full article on nj.com
Princeton Pike Corporate Center Sells
Mercer Oak Realty was recently involved as the seller’s representatives during the sale of Princeton Pike Corporate Center. Please read this article on NJBIZ for full details on the recent 800,000 sf sale.
2016 Princeton Office Market Report
Mercer Oak Realty, Princeton Property Partners & Princeton Property Management are proud to present our 2016 Market Report (click to download). This year’s report highlights trends from 2015, what 2016 could hold, how New Jersey’s economy is doing at the moment and a look back on our 2015 predictions. Hot topics include: “Densification” Building Upgrades…
New to Market: 10,000 sf Office
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…
The Sustainable Office: A peek into the modern changing office
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)…
Meeting new Industrial demands: Renovations & Market Shifts
New Jersey’s industrial market has been going through some changes recently. What are they and how did they come about? This NJBiz article highlights some of the issues with the state’s current warehouse stock and what is being done to change that.
$120M public-private development partnership nears completion
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…
What Ewing Business is Getting a $2.125M Boost?
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…
Companies Want Quality
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…
Glut, defunct & stranded: What do these words describe?
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,…
How are NJ's incentives doing?
We’ve posted a lot about New Jersey’s current incentive packages aimed at both retaining current jobs and businesses within the state’s borders and also attempting to attract new businesses and jobs. There are both fans and critics of these programs, as with most things. In an attempt to get an unbiased answer on whether or…
Two new incentives deals for Mercer County
Quick facts: Who: TRAC Intermodal Currently located at: 211 College Road East, Plainsboro & 2 Independence Way, South Brunswick Will consolidate to: 750 College Road East, Plainsboro Size: 82,000 sf Lease term: 10 years, 9 months Incentive amount: $9.8 million Who: LMT Mercer Group Currently located at: 690 Puritan Ave, Lawrence Will build at new…
Special Olympics New Jersey: Mercer County Hosts a Celebration
This past week over 3,500 athletes competed in the 2014 Special Olympics Summer Games, joined on the sidelines by their coaches, fans & families. The games took place state-wide, with most of the events finding homes in Mercer County. Princeton University, The College of New Jersey, Peddie School, Mercer County Park, Rider University, The Hun…
PrincetonSouth Welcomes Independent Travler
Leasing Continues at PrincetonSouth Corporate Center The Independent Traveler, Inc., a subsidiary of TripAdvisor Inc., signs lease for 16,000 sf office Mercer Oak Realty proudly welcomes The Independent Traveler©, Inc., a subsidiary of TripAdvisor© Inc., to the expanding tenant roster at PrincetonSouth Corporate Center. The corporate park has seen over 40,000 sf of new leases…
In the News: Week of June 1st
Hopewell Township: 200-acre Rezoning Critics Have Say The possibility of a major change to the Valley’s landscape- construction of a large mixed-use development off the western side of Scotch Road, between I-95 to the south and Route 546 to the north will continue to be discussed at future Planning Board and Township Committee meetings. (read…
REBA Breakfast: What is “Green” & Why You Should Know More About It
Come learn the basics of “green” building- what it is and how it may impact your and your clients business needs. Princeton Area residential & commercial companies share their success stories & lessons learned about one of the fasted growing trends in real estate. On June 12th, Joshua Zinder (Joshua Zinder Architecture + Design), Vincent…
Bristol-Myers Squibb details new plans for Lawrence property
Many plans have been made for a 75.4 acre piece of property on Princeton Pike at the intersection of I-95, but so far a giant oak tree has had the land all to itself. (read full story on nj.com here)
$58 million in Incentives Awarded to New Jersey Companies
New Jersey awarded Unilever $40 million in tax breaks Friday to keep the company in Englewood Cliffs and retain 1,600 jobs in the state, while giving JPMorgan Chase Bank and RBC Capital Markets about $300 million in breaks in return for the companies’ commitment to add 1,900 jobs in Jersey City over 10 years. (Read…
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…