PRINCETON, NJ– The satellite communications company SES Americom has signed a long-term lease extension for 79,000 square feet at 4 Research Way in Princeton that serves as the firm's headquarters. The company will consolidate space from three floors of the building to use only two floors.
Cushman & Wakefield orchestrated the transaction for the Luxembourg-based company, which owns and operates 52 geostationary communication satellites and a network of teleports.
“The decision by SES Americom to extend at their existing headquarters location came after a comprehensive two-year search involving numerous locations, including both existing and build-to-suit opportunities, in New Jersey and Pennsylvania,” said Marc Trevisan, who along with Robert Rudin of C & W represented the firm in the transaction. The landlord for the Princeton building, Landlord National Business Parks, was represented in-house.
The Princeton building, built in 1981, holds a total of 129,000 square feet, all of it previously leased by SES. With the third floor now available, Trevisan said C&W is assigned to market that space.
The regional office market remains “soft,” according to Trevisan. “Many of the locations we investigated during our comprehensive search remain available. However, given 4 Research Way's prime Princeton-area location, its quality and amenities, we anticipate a great deal of interest in this availability.”
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