FirstService Williams Negotiates 26,600-SF Lease at One University Square
By Mel Fabrikant Sunday, January 10, 2010, 01:31 PM EST
Second Major Lease Signed at Princeton’s Newest, Premier Office Building
FirstService Williams New Jersey, the Garden State office of the world’s fourth largest commercial real estate services firm, arranged a long-term, 26,600-square-foot office lease on behalf of the landlord, RXR Realty, at One University Square, Princeton’s newest premier office building. Axis Insurance Company will likely take possession of its second-floor space in the second quarter.
Ward Greer, senior managing director, FirstService Williams, led the negotiations on behalf of RXR. “Axis Insurance is the second tenant to sign a long-term lease at One University Square, showing the strength of the Princeton market and a flight to quality among office users,” Greer said. “RXR is fully committed to working with strong, stable tenants in search of state-of-the art office facilities.”
FirstService Williams recently completed one of the state’s largest transactions of the year at One University Square. It arranged a long-term, 67,531-square-foot office lease on behalf of RXR Realty, with Otsuka America Pharmaceutical Inc. agreeing to occupy the entire top floor as its U.S. headquarters.
One University Square is a five-story, 313,000-square-foot Class “AAA” office building featuring the most up-to-date communications, technology and connectivity systems, as well as a two-story atrium lobby with sophisticated finishes of cherry wood paneling and granite pavers. The building offers 21-foot high window walls, concierge service, a 24/7 security system and four passenger elevators with satin stainless steel doors and interior finish of granite panels with cherry wood trim.
Amenities also include a top-tier health club with men’s and women’s locker rooms, showers and saunas, a 60-seat, multi-media team room, full-service cafeteria and 900 kw backup generator providing 2 watts per square foot for tenant’s use. Furthermore, One University Square is in close proximity to the Princeton Junction Train Station, as well as local restaurants, hotels and the Princeton Marketfair Shopping Center.
New York-based Axis Insurance is a property and casualty insurance and reinsurance company licensed throughout the United States. The lease at One University Square represents space for the firm’s new Accident and Health division.
Mario Chiarella and Mark Fowler, of Weichert Commercial Brokerage Inc., as well as Jimmy Sanders and Mitch Kahlert, of ICON Commercial Interests, LLC, of Atlanta, GA, represented Axis Reinsurance in the new lease transaction.
FirstService Williams New Jersey, the Garden State office of the world’s fourth largest commercial real estate services firm, arranged a long-term, 26,600-square-foot office lease on behalf of the landlord, RXR Realty, at One University Square, Princeton’s newest premier office building. Axis Insurance Company will likely take possession of its second-floor space in the second quarter.
Ward Greer, senior managing director, FirstService Williams, led the negotiations on behalf of RXR. “Axis Insurance is the second tenant to sign a long-term lease at One University Square, showing the strength of the Princeton market and a flight to quality among office users,” Greer said. “RXR is fully committed to working with strong, stable tenants in search of state-of-the art office facilities.”
FirstService Williams recently completed one of the state’s largest transactions of the year at One University Square. It arranged a long-term, 67,531-square-foot office lease on behalf of RXR Realty, with Otsuka America Pharmaceutical Inc. agreeing to occupy the entire top floor as its U.S. headquarters.
One University Square is a five-story, 313,000-square-foot Class “AAA” office building featuring the most up-to-date communications, technology and connectivity systems, as well as a two-story atrium lobby with sophisticated finishes of cherry wood paneling and granite pavers. The building offers 21-foot high window walls, concierge service, a 24/7 security system and four passenger elevators with satin stainless steel doors and interior finish of granite panels with cherry wood trim.
Amenities also include a top-tier health club with men’s and women’s locker rooms, showers and saunas, a 60-seat, multi-media team room, full-service cafeteria and 900 kw backup generator providing 2 watts per square foot for tenant’s use. Furthermore, One University Square is in close proximity to the Princeton Junction Train Station, as well as local restaurants, hotels and the Princeton Marketfair Shopping Center.
New York-based Axis Insurance is a property and casualty insurance and reinsurance company licensed throughout the United States. The lease at One University Square represents space for the firm’s new Accident and Health division.
Mario Chiarella and Mark Fowler, of Weichert Commercial Brokerage Inc., as well as Jimmy Sanders and Mitch Kahlert, of ICON Commercial Interests, LLC, of Atlanta, GA, represented Axis Reinsurance in the new lease transaction.
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