National Business Parks (NBP) based on Research Way, recently acquired 201 College Road East. The transaction increased the company’s holdings at College Park in Forrestal Center to 12 buildings totaling 871,000 square feet.
The Class A building has 57,000 square feet of office and laboratory space and is fully occupied by long-term tenant Laureate Biopharmaceutical Services.
“Our 22 years as landlord to many College Park office and research and development companies made NBP the ideal buyer for the property, which had not yet been listed on the market,” said Vincent Marano, vice president and COO. “A perfect fit with our surrounding properties and tenant mix, the new acquisition will gain immediate benefit from all of our existing on-campus amenities and services.”
Peter Dodds, principal of Morford & Dodds Realty of Princeton, represented the seller. Dodds could not be reached for information on the seller or the sale price before U.S. 1’s press time.
Financing for the deal was provided by Roma Bank, which has provided NBP with funding for a number of properties in College Park and 465 South Street in Morristown.
Constructed in the mid-1980s, 201 College Road East was upgraded to provide several FDA-approved laboratories in addition to first-class office space.
National Business Parks Inc., 2 Research Way, Third Floor, Princeton 08540; 609-452-1300; fax, 609-452-8364. Vince Marano, vice president and COO. www.collegepk.com.