"These lease agreements are great news for Princeton and for the entire Central New Jersey region in a challenging economy and office market," Greer says. "The building was recently renovated and we've been able to dramatically increase the occupancy."
Much of that activity came in the form of pharma firm Theradex's lease for 27,260 sf. Also, management firm MGA Careers took 3,627 sf; financial firm Scott Michaels & Co. signing on for 3,158 sf; Altech Star, an IT company, took 2,408 sf; Catalyst Systems, another IT company, took 2,111 sf; Joy Community Development leased 2,030 sf; and MedCases, a health care education company, took just less than 2,000 sf.
On the tenant side Tom Romano of Newmark Knight Frank represented Theradex; Brian Rushing, also of NKF, represented MGA Careers, Altech Star and Catalyst Systems; Steve Richel of Grubb & Ellis represented Joy Development; and Greer represented both Scott Michaels & Co. and MedCases. Terms were not released; the space had been on the market with an asking price of $20 per sf plus tenant electric.
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