The building, which is now 84% occupied, is owned and operated through a partnership between affiliates of BPG and Aegis. There is currently around 27,000 square feet of space available for lease.
According to the building's owners, the law firm was a former subtenant in the building. "The transaction provides us the opportunity to retain a high quality tenant and maintain the diverse tenant mix within the building," says Robert Beach, asset manager of BPG Properties, who along with James Kinzig, president of Aegis Property Group, was responsible for overseeing negotiations on behalf of the landlord.
The four-story, 168,000-square-foot office building offers frontage on College Road East. The building also features floor plates with a south wing of around 15,000 square feet and a north wing of close to 27,000 square feet. On-site amenities include a full service cafeteria.
Although the companies declined to give the rental rate, Cushman & Wakefield's Q3 office report puts Princeton direct weighted average asking rents for class A property at $36.18. Founded in 1971, Sills Cummis & Gross maintains offices at Rockefeller Center in New York City, the Legal Center in Newark and Forrestal Center in Princeton.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
