Real Estate Journal — New Jersey — December 12 - 18, 2014 — 13B
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DaCosta of CBRE represents tenant in 22,550 s/f lease Prism secures three leases for 57,000 s/f at Princeton Pike
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AWRENCEVILLE, NJ – Three new leases to- taling nearly 57,000 s/f at Princeton Pike Corporate Center in Lawrenceville re- flect growing regional leasing momentum and stepped-up interest sparked by a multi- million-dollar capital improve- ment program at the eight- building, class A office campus. Prism Capital Partners, LLC with Angelo, Gordon & Co. , acquired Princeton Pike Corporate Center in 2013; the Bloomfield, NJ, firm serves as operating partner for the joint venture. J. Knipper and Company, Inc., which provides end-to-end samples management services to the U.S. pharmaceutical industry, leased 23,000 s/f of garden-level space at 1009 Lenox Dr. Sab Russo from Mercer Oak Realty served as tenant broker in the long-term transaction. National law firm Eckert Seamans Cherin and Mellott, LLC committed to 22,550 s/f on the second floor of Princeton Pike Corporate Center’s 2000 Lenox Dr. The Pittsburgh- based practice was represented by Ed DaCosta from CBRE in the long-term lease. At 1000 Lenox Dr., financial services firm Management Planning, Inc. leased 11,370 s/f. The company will take occu- pancy of its third-floor space in a relocation move from another Princeton-area address. Roby Bull from Jones Lang La- Salle served as tenant broker in that long-term deal. “The improving economy has brought renewed velocity to the office leasing market, with companies coming off the sidelines to make strategic real estate decisions as they posi- tion themselves for growth,” said Edwin Cohen , a princi- pal partner with PrismCapital Partners. “The Princeton sub- market, in particular, is seeing significant interest, and our latest leases – including one relocation from out of state – speak to its appeal.” Cohen noted the capital improvements underway at Princeton Pike Corporate Cen- ter have elevated the prop- erty’s profile in recent months. Lobby renovations; elevator and HVAC modernizations; updated restrooms; and new lighting, wall coverings, paint and carpeting are among the various upgrades underway at select buildings. Parking L
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lot repaving, new roofs, build- ing skins and other exterior renovations are being made at others. Located on 100 acres at the
intersection of U.S. Rte. 1 and I-195, Princeton Pike Corporate Center is just minutes from downtown Princeton. Princeton Pike is over 90% leased. n
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