LAWRENCEVILLE, NJ – CBRE Group is exclusively marketing a mostly-vacant medical office building here that the bank owner is willing to improve and reposition for a tenant or buyer, GlobeSt. has learned.
Lawrence Commons, as the building is known, is a two-story, 41,610-square-foot office building, in “the heart of the Princeton submarket,” said Ben Shapiro, who is leading CBRE's marketing of the building following its foreclosure. Gina Albert is handling property management at the site, 3371 Route 1.
Shapiro described a situation of “tremendous flexibility” in terms of what is possible for the building. “It could be an investment for an interested buyer,” he said; CBRE will also “provide a variety of leasing options to prospective tenants.”
Leased suites are divisible to 1,100 square feet and up to 16,000 square feet on each floor. Equipped for medical-related uses, the building is close to the new Princeton Hospital and Capital Health Hospital, a ten-minute drive from downtown Princeton.
The building has direct access to and from Rt. 1 South and immediate access to I-95 and I-295. It has signage on Route 1. There is on-site parking and the site is close to mass transit.
Adjacent to the Mercer, Nassau Park and Quakerbridge Malls, the property has numerous retail, dining and hotel options.
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