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.)

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…

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…

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…

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…

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,…

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…

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…

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…

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…

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…

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 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…

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…

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…

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…

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…

Princeton recently received more national recognition: the “Overall Best” spot in a ranking of small cities in the US. In October, Princeton was also named the “Best College Town to Live in”. Both of these distinctions were presented by financial websites, wallethub.com and smartasset.com, respectively. To learn more about the categories included in the decision…

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…

The Partners of Princeton based integrated design firm Joshua Zinder Architecture + Design, Joshua Zinder & Marlyn Zucosky, have been selected the Entrepreneurs of the Year by the Princeton Regional Chamber of Commerce. Read more on centraljersey.com.

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.

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…

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…

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…