A Lawrenceville office building has changed hands in a $4.4 million deal, with new ownership planning long-term investment in the property.
Colliers announced the sale of the Quakerbridge Executive Center at 101 Grovers Mill Road just before the July 4 weekend.
The three-story, 77,530-square-foot building was purchased by an affiliate of Pentaurus Properties, based in Millburn. Colliers represented the seller, Murray Construction.
Located off Route 1 with direct access to I-295, the site connects to Princeton, Trenton, and the wider Philadelphia metro area. It also sits across from QuakerBridge Mall.
The building is currently 47% leased and anchored by longtime tenant Szaferman Lakind, a law firm that has maintained offices there for more than 40 years.
Colliers said the firm’s continued presence highlights the site’s long-term value and ties to the community.
Pentaurus Properties plans to renovate the entire complex. Asset manager JD Moore said upgrades will modernize both common areas and tenant spaces, with aggressive improvement packages offered to attract new users.
“Today, it is more important than ever to have your team want to be in the office — and the first step is providing them with a beautiful functional environment,” Moore said. “We just love the project.”
Colliers identified the Route 1 corridor as a key driver of office activity in the Princeton submarket.
According to the firm’s first-quarter 2025 report, Central Jersey includes about 83 million square feet of office inventory, with average asking rents holding at $28.29 per square foot.
The Colliers brokerage team included Vice Chair Jacklene Chesler, Vice President Patrick Norris, Director and Senior Financial Analyst Philippe Jomphe, and Senior Financial Analyst Matthew Cohen.
