Class-A Office Building in Plainsboro New Jersey Nears Full Occupancy
By Mel Fabrikant Thursday, March 11, 2010, 11:53 AM EST
- Cassidy Turley collaborates with Premier Properties to negotiate 13 new lease transactions over the past 12 months –
Despite extraordinarily challenging market conditions, Premier Properties of Lakewood, NJ is pleased to announce that its property located at 101 Morgan Lane in Plainsboro, N.J. is now approaching 100 percent occupancy. Over the past 12 months, the property has attracted 11 new tenants, while two existing tenants renewed long-term leases, amid some of the most difficult leasing conditions for Class-A office property in memory.
Located at 101 Morgan Lane, Princeton North Plaza is currently 95 percent occupied with more than 40,000-square-feet in recent lease transactions completed over the past 12 months. Cassidy Turley’s Douglas Twyman, Senior Vice President, Milton Charbonneau, Vice President, and Jordan Forster, Associate, have been spearheading the marketing efforts for this property on behalf of the owner.
Purchased in 2007 by Premier Properties, a private Real Estate Investment firm with a portfolio of office and multi-family holdings along the East Coast, the property remains an attractive asset to technology and pharmaceutical tenants due to its prime location and wide array of top-of-the-line amenities.
“Over the last year, we have had the opportunity to place one new tenant per month in this state-of-the-art property,” noted Forster. “This is an unprecedented accomplishment amidst difficult and challenging market conditions; however, this achievement is a powerful testament to Premier Properties’ responsiveness and flexibility as an owner and landlord.”
Included among the new tenants who have committed to the building are: Harmonic, Pharm-Olam Int’l, Strategic Research Insights, ViaPeople, and Oxford Princeton Programme. In addition, existing tenants, Wave Technologies and Willowbridge Associates, have both renewed for long-term leases.
“We are currently renovating the final two suites for immediate occupancy so this property still represents a great opportunity for small and mid-sized tenants who want to be located within the Princeton Submarket,” stated Premier Properties’ Managing Partner, Jack Adler. “We have taken a deal-making, hands-on approach with this property, as with all assets in our portfolio, which has ultimately led to more than 92 percent occupancy over the past 12 months, increased from a low of 50 percent. We respond to the needs and requests of tenants quickly and have made important upgrades to the facility in order to provide our tenants with the best quality of services available. We will continue this approach in order to keep the site operating and performing at the highest level of service for our tenants.”
Totaling 65,000-square-feet of Class A office space, 101 Morgan Lane is a three-story office building located on the Princeton/Plainsboro border in New Jersey, just minutes from Routes 1 and 206. The site offers its tenants on-site management, a cafeteria, a beautiful courtyard and fiber optic/T3 lines, as well as flexible layouts that the landlord will build-out to the tenant’s specifications. Other amenities include attractive solar reflective panels, a corporate park environment and nearby jogging trails, as well as a wide array of shopping destinations.
Despite extraordinarily challenging market conditions, Premier Properties of Lakewood, NJ is pleased to announce that its property located at 101 Morgan Lane in Plainsboro, N.J. is now approaching 100 percent occupancy. Over the past 12 months, the property has attracted 11 new tenants, while two existing tenants renewed long-term leases, amid some of the most difficult leasing conditions for Class-A office property in memory.
Located at 101 Morgan Lane, Princeton North Plaza is currently 95 percent occupied with more than 40,000-square-feet in recent lease transactions completed over the past 12 months. Cassidy Turley’s Douglas Twyman, Senior Vice President, Milton Charbonneau, Vice President, and Jordan Forster, Associate, have been spearheading the marketing efforts for this property on behalf of the owner.
Purchased in 2007 by Premier Properties, a private Real Estate Investment firm with a portfolio of office and multi-family holdings along the East Coast, the property remains an attractive asset to technology and pharmaceutical tenants due to its prime location and wide array of top-of-the-line amenities.
“Over the last year, we have had the opportunity to place one new tenant per month in this state-of-the-art property,” noted Forster. “This is an unprecedented accomplishment amidst difficult and challenging market conditions; however, this achievement is a powerful testament to Premier Properties’ responsiveness and flexibility as an owner and landlord.”
Included among the new tenants who have committed to the building are: Harmonic, Pharm-Olam Int’l, Strategic Research Insights, ViaPeople, and Oxford Princeton Programme. In addition, existing tenants, Wave Technologies and Willowbridge Associates, have both renewed for long-term leases.
“We are currently renovating the final two suites for immediate occupancy so this property still represents a great opportunity for small and mid-sized tenants who want to be located within the Princeton Submarket,” stated Premier Properties’ Managing Partner, Jack Adler. “We have taken a deal-making, hands-on approach with this property, as with all assets in our portfolio, which has ultimately led to more than 92 percent occupancy over the past 12 months, increased from a low of 50 percent. We respond to the needs and requests of tenants quickly and have made important upgrades to the facility in order to provide our tenants with the best quality of services available. We will continue this approach in order to keep the site operating and performing at the highest level of service for our tenants.”
Totaling 65,000-square-feet of Class A office space, 101 Morgan Lane is a three-story office building located on the Princeton/Plainsboro border in New Jersey, just minutes from Routes 1 and 206. The site offers its tenants on-site management, a cafeteria, a beautiful courtyard and fiber optic/T3 lines, as well as flexible layouts that the landlord will build-out to the tenant’s specifications. Other amenities include attractive solar reflective panels, a corporate park environment and nearby jogging trails, as well as a wide array of shopping destinations.
