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 also has offices in Delaware, Pennsylvania and New York. Aubrey and our Mercer Oak team have been lucky to call Archer & Greiner’s Princeton office a client over the years and we couldn’t be happier for them to receive some well deserved praise. Keep up the great work!
You may have noticed a new feature on our website- Marketour. Have you checked it out yet?
Marketour is a tool for any company interested in learning more about office space in the Princeton Market.
“Marketour started out as an in-house presentation tool years ago. Working with our tenant representation clients, we realized just how useful having an unbiased, birds eye view of the entire Princeton market is. We eat, breath and sleep this market, so we are constantly aware of what is and isn’t available. Our clients are too busy running their own businesses to pay attention to that.” explains CEO, Aubrey Haines. “With Marketour, companies can browse the market, get a sense of what’s out there and then give us a call to discuss their options. Marketour helps our clients leverage their valuable time and allows us to focus on the most important aspect of a commercial real estate transaction- the art of the deal.”
President, Sab Russo says, “Marketour is dynamic and we plan to continue to make changes and additions to create a better tool for companies searching for office space.”
Currently, the public version is available on the website. A version with significantly more information is available to Mercer Oak clients provided with a dedicated login.
Whether you’re looking to move in the next 6 months or just want to get a better idea of whats out there for future plans- Marketour is the easiest way to find your new office.
On Wednesday, Hamilton township officials announced that the 1-million square foot Congoleum plant on Sloan Avenue in Hamilton, NJ was sold.
The plant’s location makes it an interesting opportunity to develop. It is situated very close to major highways, creating easy access and also extremely close to the Hamilton Train Station, leading some to wonder if the plan will include attempts to created a mixed-use, rail oriented space.
Sab had a chance to chat with Diccon Hyatt of US1 last week before he gave his presentation at the MIDJersey Chamber’s Breakfast Forum on Thursday the 23rd.
Hyatt not only learned about the booms & busts that would be in Sab’s presentation, but also a little more about Sab himself.
This morning’s MIDJersey Chamber Breakfast Forum had a great turnout, despite the cold rainy start to the day.
Attendees sipped coffee and snacked on pastries as Jerry Fennelly (NAI Fennelly), Sab Russo (Mercer Oak Realty) and David Lodato (Credit Union of New Jersey) took turns speaking about various important aspects of the current Princeton Commercial Real Estate Market. The gentlemen fielded questions from the audience after all three presentations had been given.
Sab Russo covered drivers of the market- what we’ve seen in the past during upturns and down swings, and distilled that information to help us understand what markers may present themselves to help us anticipate the next down swing. He also spoke about some changes that have been seen recently in regards to how companies are actually using their space, and how their needs have changed.
“No one can predict the future, but what we can do is study what has happened in the past, understand why it happened and use that new knowledge to help guide our clients and ourselves to more informed decisions for tomorrow.” explained Sab. “We’ve been tracking market statistics and trends since the mid 80’s- you shouldn’t live in the past, but it’s quite helpful to visit from time to time.”
Jerry Fennelly spoke at length about detailed market transactions and possible future trends in the commercial real estate market. David Lodato spent time sharing what the Credit Union has seen happening with their clients and also touched on Crowdsourcing, and how some new laws may change the game.
Mercer Oak Realty would like to extend a big thank you to the MIDJersey Chamber of Commerce for inviting us to be a part of this great event- as well as the Credit Union of NJ & V.J. Scozzari & Sons, for sponsoring and helping to organize the breakfast.
What’s your Thursday morning look like? Have time to grab a cup of coffee and danish with us?
Our President, Sab Russo will be joining MIDJersey Chamber’s Commercial Real Estate Trends in Central NJ panel this Thursday morning, October 23rd, from 8 am until 10 am at Mountain View Golf Course. Sab will be speaking along side Jerry Fennelly of NAI Fennelly and David Lodato of the Credit Union of New Jersey and then fielding attendees questions.
What trends are we currently seeing in the Commercial Real Estate Market in the area? What trends have we seen before? Can they be used to help us better understand what may happen tomorrow? Join us & find out!
The owners of the property in Hopewell formerly owned by Merrill Lynch have decided to abandon the current zoning, which calls for office use. They are seeking new zoning that would allow a proposed development dominated by multi-family with some retail and 94,000 sf of office (down from 1,000,000+ sf of office). Recently, Bristol-Myers Squibb announced that they would develop a site that they own at I-95 and Princeton Pike for their own use. BMS plans to start construction shortly on a 650,000 sf campus on their 100+ acre property in Lawrenceville. These two developments significantly reduces the potential supply of Class A office sites in the I-95 corridor. This will drive up demand for the remaining I-95 Corridor sites as well as properties along the southern portion of the Route One corridor and will bolster the value of the existing limited supply of existing and proposed Class A space in this submarket.
Mercer Oak Realty was in attendance last week at the recently renovated Wyndham Garden on West Lafayette Street in the Capitol City as MIDJersey Chamber welcomed Trenton’s newly-elected Mayor Eric Jackson and learned more about the Trenton250 plan.
Opening remarks were delivered by the Honorable Eric Jackson, a Capitol City native and Fairleigh Dickinson graduate. Jackson had a 17 year career with the City of Trenton before taking the position of City Public Works Director in Plainfield, NJ and then returning to Trenton in July, this time as Mayor.
Mayor Jackson addressed the business community and made it clear that he was grateful for their support and aware of how important local industry is to helping Trenton realize its full potential.
“Having a Mayor in office who understands the role that the local business community can play in the revitalization of Trenton is key. The current GrowNJ tax incentives make Trenton an especially attractive option for a large company headquarters, creating a nearly rent-free scenario for up to 10 years in certain cases. For example, a property we represent, the proposed Vista Center, is an approved 25-story LEED platinum office tower located directed across from the Trenton Transit Center. That incentive package, coupled with a business friendly atmosphere and responsible government is integral to drawing a large company and up to 1,000 employees to Trenton. An influx of professionals spending their days in Trenton, many of them eventually moving there to be closer to work, would do wonders to kick-start the economy.” explains Sab Russo, President of Mercer Oak Realty.
The Trenton250 team presented its concept for achieving a community driven long-range Master Plan to guide Trenton through its 250th Anniversary (which will be in 2042). The concept behind Trenton250 is to gain a deeper understanding and knowledge of Trenton- its strengths and its weaknesses- and use that to create a vision that capitalizes on the city’s unique assets, and addresses its problem areas. Trenton250 is hoping to engage the community in every step of the process through various in-person and online forms.
Check out Trenton250.org to learn more about the plan and become part of the discussion.
We look forward to seeing Trenton move forward into a bright future.
