EWING TWP., NJ-An Opus joint venture will build Princeton South Corporate Center on a newly purchased 102-acre parcel here. The mixed-use development will have 720,000-sf of office space in six buildings, a 150-key hotel, and pad sites for two restaurants and a freestanding bank.
The 102 acres, at the southwest corner of I-95 and Pennington Rd. (Route 31), was purchased from New York City-based Bloomberg Financial for an undisclosed price on May 3. Opus has been planning the complex for the past six months. "We were made aware of the site in January," says C. Craig Guers, senior vice president and general manager of Opus East, tells GlobeSt. The JV combines Opus East LLC and Opus Development Partners, Minnetonka, MN.
The site plan for the acreage, subject to Ewing's municipal approval, would have the first of the six offices, the 120,000-sf, four-story class A Prince South Corporate Center I – break ground in October, on spec. Bloomberg Financial had approval for up to one million sf of commercial space on the land before the sale.
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