Cushman & Wakefield Announces Leasing Activity at 600/650 College Road, Princeton, NJ
Ownership Gears Up to Launch Rebranding/Renovation at Class A Office Asset.
- Middlesex-Somerset-Hunterdon, NJ (1888PressRelease) February 20, 2018 - Leasing activity involving four tenants and totaling 64,000 square feet reflects increased momentum at 600 & 650 College Road in Princeton. Cushman & Wakefield serves as exclusive leasing agent for the 440,000-square-foot, Class A office complex.
Coface North America is the newest tenant at the property. The global credit insurance organization committed to 27,000 square feet in a headquarters relocation play. JLL served as tenant broker in the long-term lease.
“The move from nearby East Windsor to 650 College Road enables Coface North America to leverage the employee recruiting and retention benefits of a Princeton address in Forrestal Center,” noted Cushman & Wakefield’s Todd Elfand, who along with Paul Giannone, Kevin Carton and Joe Vacca work on the agency project. “In addition to this master-planned campus’ bucolic outdoor facilities – including extensive walking and jogging trails – 600 & 650 College Road offers easy access to Route 1 and abundant amenities as well as downtown Princeton’s vibrancy. This neighborhood is a recognized go-to location for Fortune 1000 quality tenants, who enjoy access to the region’s affluence and deep white-collar labor pool.”
These same advantages contributed to a flurry of recent renewals at the property as well. Most recently, BT Americas (represented by Colliers International) re-committed to 8,000 square feet, and Hamilton & Company renewed for 6,000 square feet. Cushman & Wakefield orchestrated both long-term transactions on behalf of the owner. Additionally, last year RCN Corporation renewed for 23,000 square feet.
The property’s ownership, TH Real Estate – an affiliate of Nuveen, TIAA’s investment management arm – is currently gearing up for a rebranding and renovation program at 600 & 650 College Road. According to Carton, the improvements will focus on increasing the utilization of outdoor patio areas, retrofitting and expanding the onsite cafés, and adding a shared, town-hall style conference center. Common areas will be updated throughout the property as well.
“This trophy-quality asset has long been known as housing two of the nicest Class A buildings on College Road,” Elfand noted. “600 and 650 College Road historically have drawn tenants seeking flexibility and ample parking capacity. As the trend toward the densification of operations continues, TH Real Estate is working to bring these buildings to a new standard – one that will meet the needs of tenants seeking the opportunity to be in true Class A space that also affords design efficiency.”
Cushman & Wakefield currently is marketing units from 3,000 square feet at 600/650 College Road. Up to 70,000 contiguous square feet can be assembled on multiple floors.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow ( @ ) CushWake on Twitter.
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