PLAINSBORO, NJ-CBRE Group will handle pre-leasing of a 720,000-square-foot, office/R&D campus being developed by LCOR and Ivy Equities with Intercontinental Real Estate adjacent to the Novo Nordisk headquarters here, GlobeSt.com has EXCLUSIVELY learned.

The new campus – at 700 Scudders Mill Road – could have five or six buildings on more than 100 acres, including 60 acres of preserved open space to ensure open views for all tenants

To be known as The Green at Princeton, the campus will offer headquarters-quality offices with access to abundant onsite and local amenities and parking. Construction is designed to meet LEED-Platinum certification and includes a solar power plant.

“There is demand for office space that is new and customized,” CBRE's Alec Monaghan tells GlobeSt.com. Despite the state's plethora of older suburban buildings – and an overall office vacancy rate stuck in the 20%-range for years now – Princeton stands out as an ideal campus location, he says.

Monaghan is part of a CBRE leasing team that includes Joe Sarno, Jeremy Neuer, Ada Englander and West Moore handling the leasing.

“We think the campus setting appeals to companies,” Monaghan says, “and New Jersey's new incentive programs provide a real attraction – not just to companies already in the state, but on a national and global basis – because of the built-in advantages of being on the Princeton corridor.

Bristol-Myers Squibb, Credit Suisse, Zurich Re Insurance, Princeton Plasma Physics, Siemens, Robert Wood Johnson Foundation, Sandoz and NRG Energy are already the area.

Novo moved last spring into fully renovated headquarters at 800 Scudders Mill Road from previous offices in Princeton. That building, renovated by the same partners involved in “The Green” project, was originally occupied by Merrill Lynch.

The Green and No's headquarters are both situated within the 2,200-acre Princeton Forrestal development.

“The Green” would be suitable for a variety of users, says Monaghan, including financial services, technology, medical, law firms, and research and development.

“One of the advantages we can offer is a much higher ratio of parking than is typically available in an office setting,” he notes: five spaces per 1,000 square foot of office space, expandable to handle dense work environments.

Monaghan says the initial marketing effort is aimed at attracting tenants with space requirements ranging from 120,000-300,000 square feet.