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 Airlines, who has flown out of Ewing since 2012.
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 location at: New York Ave & Strawberry St, Trenton
Size: 90,000 sf
Incentive amount: $1.55 million
To read more about the deals at TRAC Intermodal or LMT Mercer Group, please visit nj.com for the full stories.
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 participated in the event at Greenacres Country Club- all for a good cause. Proceeds help raise funds to send kids to summer camp who may not otherwise have the opportunity through the Summer Camp Scholarship Fund for Trenton Youth. This year’s event was the best golf outing to date for the YMCA of Trenton.
To learn more about what the YMCA of Trenton (serving Trenton, Lawrence and Ewing) is doing in the community, please visit their website: http://trentonymca.org/.
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 in Mercer County.
We can point to a few examples of existing mixed-use environments in our backyard: downtown Princeton (Mercer Co, NJ) and Lambertville and New Hope (Hunterdon Co, NJ and Bucks Co, PA, respectively) that have been around for a long time and are very successful at being what mixed-use plans hope to be: any urban, suburban or village development (even a single building) that blends a combination of residential, commercial, cultural, institutional, or industrial uses where those functions are physically and functionally integrated, and that provides pedestrian connections. Mixed-use has had a variety of exact definitions over the years and still gets used in different ways from time to time- if you are interested in digging a little deeper, this article provided by Placemakers is a good place to start to understand the nuances.
We recently attended the Princeton Chamber of Commerce’s REBA (Real Estate Business Alliance) breakfast event (Bringing Positive Change to the Princeton Region) that was centered around planning concepts that would attract millennials and empty nesters to the Princeton/Mercer region- in particular Trenton. The mixed-use concept was spoke about at length- looking at demographics and trends around the country for the targeted age groups and considering how to apply them to our backyard.
Here is an article about the sale of a long vacant building in Hightstown that hints that a mixed-use redevelopment may be in the cards. An article from earlier in the month follows the possible redevelopment of the Ocean Spray site in Bordentown into a possible “gateway into town” mixing loft style office space and possibly a brewery, yoga studio, etc.
What does this mean for the real estate landscape in Mercer County (commercial, residential, retail, industrial)? Do you see this type of project taking hold and changing our area? Or is this another fad that will pass?
We’d love to hear your thoughts and continue the conversation. You can find us on LinkedIn, Twitter and Facebook.
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.
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 cut off for holiday gifts, but food donations will be accepted up until the 22nd.
If you haven’t had a chance to participate yet here are the details:
Food Donation for the Trenton Area Soup Kitchen (TASK)
Where: Lobby of 200 PrincetonSouth Corporate Center, Ewing, NJ 08628
When: From now until the morning of Monday, December 22nd
What: Nonperishable food items (no glass containers)- some wish list items are found here: TASK Food Drive Flyer.
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
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.