News
Archer & Greiner wins award, Ewing's airport shows its strength & how the town of Princeton extends beyond its borders
Congratulations to our friends at Archer & Greiner! NJBiz announced their Business of the Year Awards winners last week at their annual event. We are very proud to congratulate our client, Archer & Greiner on being named the Corporate Citizen of the Year for 2014. For a full list of winners, please visit the NJBiz…
TASK Holiday Donation Update
And by update- we mean thank you! The collection is off to a great start in its first week, thank you so much to everyone who has participated so far! We have been able to fill our donation box & then some. There is one more week to help out- unfortunately we have hit the…
Glaxo loses jobs, Camden gains a headquarters & sustainable offices evolve
GlaxoSmithKline’s looming job cuts Earlier this fall it became known that GlaxoSmithKline, British drugmaker, was planning a restructuring of their U.S. operations over the next three years. GSK plans to eliminate $1.57 billion in annual expenses. Details began to surface early this week (read more on njbiz.com) and fears that some of the jobs located…
TASK Holiday Food & Gift Donation at PrincetonSouth
Reflecting on 2014, the Mercer Oak Realty team has a great deal to be thankful for. We know that many folks have not been as fortunate, and the holidays are always a good time to remember that. This year there will be a Food & Holiday Gift Donation box set up in the Lobby of…
Ground Breaking on Route 1, Tax Credits to Cash & Princeton REIT CEO Steps Down: This Week in Central NJ
Ground Breaking on Route 1 NRG Energy, a power generation and retail electricity business, broke ground on its new 130,000 sf Headquarters this week in West Windsor. NRG currently occupies about 90,000 sf in the Princeton market- in 2 buildings. $37.5 million in tax incentives are helping the company consolidate and move less than a…
New Jersey construction predicted to increase by 20%
From nj.com story Construction boom coming to N.J. over next two years, business leaders predict: Business and industry leaders are predicting a construction boom over the next two years in New Jersey. Construction across the Garden State is forecast to rocket by 20 percent, according to agencies comparing their predictions at the New Jersey Alliance for…
New Jersey has its first LEED Platinum Industrial Building
It has taken 3 years, but Princetel’s 41,500 square foot repurposing project is finished and just received its LEED Platinum rating, making it the first LEED Platinum industrial building in New Jersey. LEED (Leadership in Energy & Environmental Design) is a certification program established by the US Green Building Council that requires buildings to satisfy…
156,000 sf of retail plans to come to Lawrence
4100 Quakerbridge Road, a 17 acre site south of the Quakerbridge Mall was sold to Costco for $9.4 million this week. Costco’s plans for the site are 156,000 sf worth of retail space including: a liquor store, pharmacy, optical services section, tire sales & installation and a 16 pump gas station- all of which should…
Congrats, Archer & Greiner!
We are very happy to hear that our friends, Archer & Greiner P.C., have recently been ranked among the region’s best law firms- according to U.S. News & World Report–Best Lawyers report out earlier this week. Archer & Greiner, a full-service law firm, is one of the five largest law firms in New Jersey and…
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…
Mercer County Leaders Meet for Roundtable Discussion
Leaders from 6 Mercer County towns came together to discuss their individual priorities and the future success of New Jersey as a whole. Popular topics of conversation included the NJ Transportation Trust Fund, walkable communities and NRG Energy’s new building in the breakfast hosted last week by the Princeton Regional Chamber of Commerce. West Windsor…
YMCA of Trenton's 10th Annual Golf Outing Attracts Over 70 Golfers
Monday, May 4th the YMCA of Trenton hosted their 10th Annual Golf Outing. Mercer Oak Realty’s President Sab Russo was in attendance and played in a foursome with Tim Aker, (Treasurer, Hopewell Valley Baseball & Softball Association), Randi Koss (Account Executive, Innovative Commercial Interiors) and Paul March (Managing Director, Newmark Grubb Knight Frank). 72 golfers…
Will more mixed-use projects find homes in central New Jersey?
The phrase “mixed-use” has been around for a long time, but seems to be growing more prominent in conversations, news articles and online discussions each day. We’ve mentioned a few mixed-use projects in this news section in the past and have had many conversations in the office voicing different viewpoints and imagining possibilities for here…
An Interview with NAIOP's New President
Clark Machemer, the Rockefeller Group’s senior vice president and regional development officer, was recently announced as NAIOP New Jersey’s new President. He is a 15 year member and previously served as the chapter’s vice president for public affairs. Check out his interview with NJBIZ here.
Choose New Jersey & the EDA Welcome CEOs
Both Choose New Jersey & the Economic Development Authority recently brought on new CEOs: Michele Brown and Melissa Orsen, respectively. Both groups work towards improving the business and economic climate in the state. Learn more about Choose New Jersey and Michele Brown’s plan for helping the Garden State attract & retain business. Check out the…
30K SF Lease Signed at PSCC: Mercer Oak in the News
Mercer Oak Realty is happy to announce that Philadelphia Insurance Companies has signed a lease for the entire 4th floor at 100 PrincetonSouth Corporate Center. This lease brings 100 & 200 PrincetonSouth to 85% occupancy. Learn more about the deal at nj.com or NJB Magazine. For information on remaining space at PrincetonSouth, please see our…
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…