Mid Atlantic Real Estate Journal — Brokerage Directory — July 25 - August 14, 2014 — 23C


B rokerage D irectory

154,101 s/f class A office building is fully leased to pharmaceutical giant Sandoz Cushman & Wakefield completes $63.5 million sale of 100 College Road West P

demonstrates their desire and commitment to create a headquarters that meets their long-term needs,” said Merin. “The Princeton/Route 1 submarket’s vacancy rate, 12.7 percent, is the lowest in the state,” said Merin. “This submarket has long attracted well-known domes- tic and international firms, including financial services, technology, pharmaceutical and more. n

LAINSBORO, NJ — Commercial real estate services firm Cushman & Wakefield and an affiliate of Ivy Realty have completed the $63.5-million sale of 100 College Rd. West, a 154,101 s/f class A office building in Plainsboro, in the Princeton submarket. Cushman and Wakefield’s East Rutherford, NJ-based Metropolitan Area Capital Markets Group (CMG) team of Andrew Merin , David Bernhaut , Gary Gabriel and Grace Braverman represented the seller, Ivy Realty . The property’s new owner is an affiliate of Amer- ican Realty Capital . “This transaction occurred before the availability was formally announced,” said Merin. “This sale is clear evidence of the level of de- mand by investors for class A properties occupied by high- credit, long-term tenants. Credit as well goes to Ivy Realty for their vision for this outstanding property and execution of the transaction.” The three-story office building is fully occupied by pharmaceutical giant San- doz, which recently signed a 12-year lease for its U.S. headquarters, in a transac- tion similarly arranged by Cushman & Wakefield. 100 College Rd. West was con- structed in 2000 as the U.S. headquarters for Novo Nor- disk, which subsequently ex- panded and relocated within the Princeton submarket. The building is currently undergoing significant up- grades, including a renovat- ed lobby, renovated cafeteria, new meeting rooms, office space fit-outs, and improve- ments to achieve LEED Sil- ver certification. “Sandoz’s investment in the building community, the support of the local municipalities in business growth, and now with the ben- efits afforded under the EOA, the reputation of the South Jersey market as a solid place to do business is well secured. Scott Mertz, SIOR, is prin- cipal of NAI Mertz Corpo- ration in Mount Laurel, NJ. John Adderly acts as executive VP & managing director. n continued from page 2C Southern NJ: What’s in it for you?

100 College Road West

1,600,000 SF

To Be Built Dayton, NJ (732) 287-4880

Lease with the

Market Leader

205 Mill Road, Edison NJ 08837 (732) 287-4880

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