Ownership was represented in-house by Daniel S. Ackerman, senior director of leasing for Lincoln Equities of Rutheford, NJ. Lincoln teamed up with Meritage Properties and Avenue Capital to acquire American Metro Center in mid-2006 from PREI for a reported $70 million. MACTEC was represented by the Atlanta office of GVA Williams. Terms were not released, but availabilities at the property are currently listed with an asking price of $25.50 per square foot.
"MACTEC was one of the first tenants in the American Metro Center complex, and we've seen the continual efforts in beautifying it," says Andrew G. Shust, the firm's senior scientist and project manager. "Knowing what the complex was like just three years ago compared to today makes it a delight."
Originally built in 1918 and formerly known as the American Standard Building, American Metro Center was completely overhauled in 2004/2005 by previous owner PREI, a project that added a retail component. The new ownership has continued that process, adding a café and a fitness center. The 112-acre property is along Princeton Ave. near the Hamilton train station in the Princeton corridor.
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