PRINCETON, NJ-Holtzbrinck Publishing Holdings has taken 12,260 square feet at American Metro Center (AMC), the 487,000-sqaure feet 1918 building renovated into a class A mixed-use development here, say owners Meritage Properties LLC and Lincoln Equities Group.
Holtzbrinck was searching for a more efficient layout, says Lincoln Equities Senior director of leasing Daniel Ackerman, who represented AMC in the lease.
"Meritage and Lincoln share a similar 'hands on' investment philosophy," says Meritage founder Andrew Nathan. "We both stressed focus and active asset management, with primary mission of providing the highest level of service and attention to our tenant-clients. As the economy continues to move toward stability, we anticipate seeing other companies relocate to this type of property, where the tenant has the ability to uniquely customize its space to meet their needs."
Originally built in 1918 and historically renovated in 2004, AMC consists of three buildings on 112 acres near the Hamilton Train Station and is close to Interstates 295 and 95.
"It's a very competitive market right now, and tenants are demanding more than simply the basic amenities," says Joel Bergstein, president of Lincoln Equities Group. "In the Princeton area we are seeing evidence that tenants continue to realize that American Metro Center is more than a regular office building due to the fact that the property provides a unique work environment not offered elsewhere."
Colliers International represented Holtzbrinck. Rents in the Princeton area range from $13 per square foot to $42 per square foot according to LoopNet.
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