NJ Office Campus Adds New Tenants, Renews Leases
- Feb 20, 2018
TH Real Estate has signed a new lease and three renewals totaling 64,000 square feet at its 440,000-square-foot, Class A office complex in Princeton, N.J. Cushman & Wakefield’s Todd Elfand, Paul Giannone, Kevin Carton and Joe Vacca handled the leasing deals on behalf of the owner.
The assets are situated within the Princeton Forrestal Center master-planned campus, at 600 & 650 College Road, and offer immediate access to Route 1. The first tenant, credit insurance company Coface North America, relocated its headquarters from 50 Millstone Road in East Windsor, N.J., to 650 College Road and will occupy 27,000 square feet. JLL brokered the transaction on the tenant’s behalf.
Colliers International represented BT Americas in an 8,000-square-foot lease renewal at 650 College Road. The building will also continue to be home to RCN Corp., which takes up 23,000 square feet in the four-story asset. Hamilton & Co. will continue to occupy 6,000 square feet at 600 College Road. Both assets have vacancies ranging from 3,000 to 70,000 square feet.
The owner plans to upgrade the common areas of the buildings, refurbish the outdoor patio areas, retrofit and expand the onsite cafés, and add a town hall-style conference center.
“600 and 650 College Road historically have drawn tenants seeking flexibility and ample parking capacity. As the trend toward the densification of operations continues, TH Real Estate is working to bring these buildings to a new standard-one that will meet the needs of tenants seeking the opportunity to be in true Class A space that also affords design efficiency,” Elfand said in a prepared statement.
In another recent deal, Cushman arranged acquisition financing for a three-building New Jersey office campus.
Image courtesy of Yardi Matrix