Written by caitie on . Posted in News.
2014 is drawing to a close. The coming of the New Year is, naturally, a time of reflection. What did your 2014 hold? We hope a lot of success and fond memories.
What about in our commercial real estate world? NJBiz took some time to recap their biggest real estate stories of 2014. What made their list? Do you have any additions?
We here at Mercer Oak Realty wish you and yours a very enjoyable New Years celebration and a healthy and prosperous 2015!
Written by caitie on . Posted in Announcements, MOR.
We are looking to add a Broker/Salesperson to the current Mercer Oak team- does the below job description sound like you or someone you know? If so, email a cover letter & resume to info@merceroak.com. (PDF version available here: MOR Sales Person Job Description)
Sales Person Job Description
Mercer Oak Realty is seeking a driven, aggressive individual who is looking to work as a Broker/Salesperson in a fast-paced commercial real estate office in the Princeton, NJ area.
Job responsibilities include working with a team of professionals to learn the business but also requires the successful applicant be able to be a self-starter who is a people-person and someone who is looking for unlimited compensation and know that for every 100 prospective sales targets only a very few (maybe one) will turn into a closed deal.
You will need to:
Work to develop potential leads in the marketplace by soliciting business from hundreds of prospective clients. This will include phone cold-calling and canvassing buildings and require that you are quick on your feet and good at getting others to talk in potentially challenging circumstances.
Cooperate with Senior Brokers in our office to turn potential leads into closed sales. As a Junior Broker, you would uncover opportunities for tenants and buyers to acquire office space, you would introduce Senior Brokers to the prospective clients and learn the process of negotiating and closing lease deals and sales. Over time, you would become increasingly independent and able to run deals on your own and garner a larger share of the commissions.
Learn the process of transacting in commercial real estate. We would pay for you to get your real estate license and provide you with a fully-loaded database of potential clients, teach you how to solicit business, help you to create and present financial analysis, negotiate leases and discern the difference between prospective clients who are wasting your time from clients who can make you money.
Attend industry events, Chamber of Commerce Meetings, join Clubs, be a part of the fabric of the community to build relationships and become known. Mercer Oak encourages all employees to give back to the community.
We are looking for someone with:
• Sales experience, although this is not required.
• Have strong interpersonal skills.
• Proficient in the MS Office Package (Word, Excel, Power Point, Outlook, etc)
• Must be driven, self-start, ambitious, and seeking long term career with advancement and unlimited earning potential.
• Be capable of maintaining a high energy level and have the ability to work independently, as well as a team player.
• Must be an honest person with good judgment in all business matters.
• Real estate license is required for this position, but not required to apply.
We need candidates with an outstanding entrepreneurial work ethic with great time management skills. If you have a strong interest in sales, marketing, interpersonal skills and communication skills, and have proficient computer skills, please submit your resume.
Written by caitie on . Posted in News.
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 website.
As other regional airports struggle, Ewing’s Trenton-Mercer Airport continues to grow
Last year multiple regional airports made moves- Atlantic City International Airport added more United Airlines flights, Frontier Airlines added a stop in Wilmington, DE and People Express began service out of Newark Liberty International Airport. At the same time, Trenton-Mercer Airport spent $20 million in renovations and reopened to the public with Frontier Airlines. As of now, the Trenton-Mercer addition is the only one left standing- and its not just barely making it, its growing. NJBiz provides more details here.
Princeton is everywhere
If you’re familiar with the area you understand that just because a business, store, or corporate park has “Princeton” in the name does not mean it is actually located in the town of Princeton. Mayors from neighboring towns (whose names often get replaced by “Princeton”) weigh in and add their comments in this nj.com article. Previously this year, the cache attached to the Princeton name and how it effected corporate tenant’s location decisions was discussed also.
If you enjoy our news updates- please consider following us @MercerOakRealty on twitter for more Princeton area & commercial real estate news. Mercer Oak Realty can also be found on Facebook & LinkedIn.
Written by caitie on . Posted in Incentives, News.
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 in the Parsippany office would be lost began to grow. Once Wednesday rolled around, GSK had announced that there would be significant (upwards of 900 jobs) cuts from North Carolina’s Research Triangle Park and consolidations would happen in Philadelphia offices, with no firm news on New Jersey jobs(details at philly.com).
Camden’s mystery company revealed
Monday morning brought us news from the New Jersey Economic Development Authority: $100 million more incentives and 1,000 jobs were heading to Camden. (full story at Philadelphia Business Journal) At the time, there was no official disclosure of what company would be creating those jobs, although there were suspicions about who it could be. Suspicions were confirmed today when Subaru announced that they would be moving to the Campbell Gateway district. (follow-up article from the Philadelphia Business Journal with new information)
Expanding definition of sustainability
Generally, when one thinks of sustainable practices in office buildings green roofs, rainwater collection and solar panels come to mind. While these are all helpful, companies are finding different ways to be more green. Wyndham Worldwide has a headquarters campus in Parsippany that is prime example on the evolution of a company’s sustainability policy. (learn about it on njbiz.com here)
Written by caitie on . Posted in Announcements, Events, MOR.
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 200 PrincetonSouth Corporate Center- ready to collect some help for our neighbors in the Trenton area who are struggling this winter. If you are tenant of PSCC or happen to be in the area, we welcome you to join in the giving spirit and add a little (or a lot!) to the TASK (Trenton Area Soup Kitchen) Collection box. Or, if you know you’ll see one of us outside of the office do not hesitate to hand off your donation in person.
Holiday gifts can be donated up until December 12th & food items until December 22nd.
See flyer with a list of suggested items here: TASK Food Drive Flyer
If you’d like to learn more about TASK please visit their website: www.trentonareasoupkitchen.org
Please send any questions or suggestions along to Caitie Caroleo in our office: ccaroleo@merceroak.com.
200 PrincetonSouth Corporate Center, Suite 100, Ewing, NJ 08628 | Directions
Written by caitie on . Posted in Incentives, News.
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 mile across Route 1, where the new, environmentally sustainable facility will feature a living wall, 2 solar panel fields, rainwater collection, wind turbines, electric vehicle charging stations (along with a myriad of other green features) and house 540 employees; 386 of which are existing and about 150 will be new.
NRG CEO, David Crane made the following statement during his remarks at the ceremony: “None of us will have a full appreciation of this new building until it’s fully built and outfitted and occupied. At that point, I think we will really recognize that it’s not just another suburban office spot, but rather a living and breathing organism that hopefully every day will inspire its inhabitants to accomplish great and important things.”
Is this a taste of what is to come in the Princeton market? Read the full story on the NRG Groundbreaking here, on nj.com.
Tax Credits to Cash
The New Jersey Technology Business Tax Certificate Transfer (NOL) Program allows companies to sell NJ tax losses and/or research and development tax credits to unaffiliated, profitable corporate taxpayers in the State. Advantix, a biochemical company based in Princeton, announced its preliminary approval for a $1.9 million 2014 tax credit that it plans to transfer to $1.7 million in cash. Get the details on njbiz.com, here.
Princeton REIT CEO Steps Down
Chambers Street Properties Founder, CEO & President Jack Cuneo announced that he is retiring. Chambers Street Properties is a real estate investment trust in Downtown Princeton and was founded in 2004. The company is currently seeking a replacement. Njbiz.com has a full write-up on this announcement.
Written by caitie on . Posted in News.
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 Action’s 30th annual construction forecast seminar, held this morning at the Edison Hotel and Conference Center.
Written by caitie on . Posted in News.
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 prerequisites and earn points to achieve different levels of “green” certification. The program supports efforts to promote building practices that have sustainability, health of future occupants, renewable and clean energy use and long-term money savings at the forefront. There are 4 levels of certification: Certified, Silver, Gold & Platinum.
As of August 1, 2014 there are 934 LEED Registered Commercial projects and 343 LEED Certified Commercial projects in the state of New Jersey; Princeton is home to 6 of those. Before this project, Hamilton had 2.
Princetel was founded in Pennington in 2000 and manufactures fiber optic rotary joints. The company moved to Hamilton in 2011 and has doubled its staff since then. CEO Barry Zhang says that the company’s mission is to remain sustainable, and explained that their Hamilton building has turned into a “passion project.”
Read a full story on the LEED Platinum Princetel building here, on nj.com.
Written by caitie on . Posted in News.
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 provide employment to 200 people.
The town became aware of Costco’s interest in the site when the then owner, United States Land Resources of Morristown requested a zoning change for the piece of property, over two years ago. Originally it was zoned for senior housing, but the argument was made that highway commercial would mix well in the area and the planning board approved the change.
This store will be the only Costco in Mercer County.