Ward Greer, senior managing director at FirstService Williams, led the negotiations on behalf of RXR. Mario Chiarella and Mark Fowler of Weichert Commercial Brokerage Inc., as well as Jimmy Sanders and Mitch Kahlert of Atlanta-based ICON Commercial Interests, LLC represented Axis in the new lease transaction.
"Axis Insurance is the second tenant to sign a long-term lease at One University Sq., showing the strength of the Princeton market and a flight-to-quality among office users," Greer tells GlobeSt.com. "RXR is fully committed to working with strong, stable tenants in search of state-of-the art office facilities." While the firm would not release Axis' rental rate, a recent fourth quarter office report from Marcus & Millichap Real Estate Investment Services placed Princeton effective rents at $24.61.
Last July, FirstService Williams completed a long-term, 67,531-square-foot office lease at One University Sq. on behalf of RXR Realty, with Otsuka America Pharmaceutical Inc. agreeing to occupy the entire top floor as its US headquarters.
The five-story, 313,000-square-foot class A office building features communications, technology and connectivity systems, as well as a two-story atrium lobby with cherry wood paneling and granite pavers. The building offers 21-foot high window walls, concierge service, a 24/7 security system and four passenger elevators with satin stainless steel doors and interior finish of granite panels with cherry wood trim. Amenities also include a top-tier health club, 60-seat multi-media team room and full-service cafeteria.
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