Nassau Park

Suites Hotel

Route 1 at Alexander

Nexus

Alexander Park

Advance at Vaughn

Princeton E-Park

Route 1 North

Route 1 South

Under Development

Ewing

Plainsboro

South Brunswick

Trenton

West Windsor

Corrections or additions?

Published in U.S. 1 Newspaper on April 12, 2000. All rights reserved.

Telecom Hotels in Trenton

E-mail: BarbaraFox@princetoninfo.com

What’s hot in Trenton? Yes, there is actually something

hot in Trenton. Factory buildings located by railroads, as it turns

out, are prime sites for telecom hotels, the places where telecommunications

companies can plunk large equipment and tap into the fiber lines.

Andrea Kotzker is leasing two such sites for Nexus Properties. "That’s

how all these Internet companies are setting up their sites,"

she says. "They are man-less offices. It is very exciting —

we have two major players in the one building and have a lot of interest

in the other.

The former Lee Overall factory on Trenton and the former Chris Craft

boat upholstery factory in Hamilton now have a possibility for new

life. Both are 70,000 square feet. It’s good for real estate, if not

for jobs. Rent is $10 triple net.

Among the companies that can use these steel and concrete buildings

with 12 to 16-foot clearance are AT&T, Venture Media, Broadwing —

Kotzker ticks them off. "There’s a zillion of them."

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Nassau Park

A "small" 98,000 square-foot building, to house

Kinko’s and Vitamin Shop, will face Home Depot at Nassau Park. The

groundbreaking is scheduled to take place during the week of April

24, says Steve Spiegel of Atlanta-based Hendon Properties. Already

built and soon to open are Chuck-E-Cheese, Leather Center, and a Hallmark

card store.

Of the 450,000-foot project, everything is leased, says Spiegel, even

though some of the stores are currently empty. The plaza area, which

the developer promised to build — even mentioning an "ice

palace" and/or a gazebo — is going to be created, but Spiegel

does not promise an ice rink. Earlier he had talked about leasing

to Gap Old Navy, Mikasa, and the Silver Diner.

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Suites Hotel

An Extended Stay America suites hotel is going up across

from Nassau Park, next to Behrwood Pet Motel. Last year another hotel

from this chain opened on Route 1 North, north of Novotel.

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Route 1 at Alexander

What used to be Princeton’s only heavy manufacturing

building has been stripped to the walls and will soon be framed. More

than 47,000 square feet at 693 Alexander Road is being converted to

office buildings for office or office research and will be known as

Alexander Commons. Compass Realty and Development of Cranbury-South

River Road bought the former Rosenblad building for $1,250,000. Rosenblad

had been virtually the only heavy manufacturing firm in Princeton,

and when it moved out in the early 1980s, Commercial Property Network

leased the building for a season to Paramount, and the site exuded

glamour as the production headquarters for "I.Q.," the fictional

Einstein film starring Meg Ryan, Tim Robbins, and Walter Matthau.

Then Control Automation occupied the building on a lease-purchase

deal but was bought out and moved to California.

More than 15,000 square feet have been added to the original two-story

buildings on 4.8 acres. The three buildings, right across from the

Hyatt, will have a campus like setting, with a common courtyard and

seven entrance locations. Target date for completion is August. Included

are 158 parking spaces, two elevators, a sprinkler system, sprinklered

landscape design, and forced air HVAC with separate controls possible.

Brad Valerius is the project manager.

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Nexus

Nexus Properties has one up and two to go. The 60,000-foot

three-story building at Alexander Court (the name Princeton Plaza

has been dropped) is up at 731 Alexander Road and is fully leased

by such companies as R.G. Vanderweil and Amper Politziner Mattia.

A single user, Caxton, has leased the entire 40,000-foot two story

building to be erected in the rear of the current building. Caxton,

a Manhattan-based commodities and securities trader with John Forbes

heading the Princeton office, will expand from 17,000 square feet

on Enterprise Drive. Having taken a long-term lease, it will get its

name on the building and possession is scheduled for October 15.

Up on the corner of Vaughn Drive and Alexander Road, Station Plaza

at Princeton Junction Train Station is under way. It’s on the side

of Vaughn Drive furthest from Route 1. Occupancy is expected in late

summer. The 27,900-foot building, designed by Kevin Blackney & Associates

of Philadelphia, will be owned by Striper Associates, which is connected

to Nexus Partners. It is renting for $28 gross, and 28,000 square

feet are available. All of these properties have fiber optics.

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Alexander Park

TrammellCrow has nearly leased the 140,000 square-foot

Hillier-designed building at 600 Alexander Park. Mathematica is its

chief tenant, and less than 4,000 feet remain at $29.50 gross. A new

72,000 square-foot Class A spec building next to it at 700 Alexander

Park will be built this year, to be finished by December. Riggs Bank

is the owner.

Note that Alexander Park represents a subset of Alexander Road. It

numbers range from 300 to 700 Alexander Park, but it is located between

731 Alexander (now called Alexander Court) and 821 Alexander (at Vaughn

Drive). Everything in this development was designed by the Hillier

Group, which occupies the building at 500 Alexander Park.

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Advance at Vaughn

Peter J. Cocoziello, founder of the 20-year-old Advance

Group (www.advance-re.com) is building 41,000 feet on the corner of

Vaughn and Alexander, the corner closest to Route 1, at 821 Alexander

Road. It is expected to be finished in August or September.

The two-story brick-and-glass building was designed by Florham Park-based

Rotwein and Blake. Bovis Construction, which regularly partners with

the Peapack-based Advance Group, is doing the building and will move

from Forrestal Village to take half of this space. It will have an

exercise room with showers. Bob Morford of the Garibaldi Group is

leasing spaces as small as 2,500 feet for $28.50, gross, with a workletter

allowance.

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Princeton E-Park

Peter W. Hegener of Eparkventures LLC (www.eparkprinceton.com)

plans for its pilot project, eParkPrinceton, to be available in 2001.

The 17 acres of undeveloped land at the intersection of Schalks Crossing

and Perrine roads in Plainsboro were acquired two years ago at an

FDIC auction for $533,700. The Hillier Group is designing the space

— four, 60,000 square-foot-buildings — and Princeton Development

Group will be the exclusive leasing agency.

eParkPrinceton will offer start-up businesses reduced rents and a

bevy of professional assistance from ePark partners, leading firms

in communications, advertising, management consulting, and technology.

Tenant start-ups get both a smart building — equipped with state-of-the-art

communications technology — and smart money — financial backing

from a venture capital fund Hegener hopes to grow to $50 million.

(U.S. 1, March 8.)

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Route 1 North

On the eastern side of Route 1, National Business Parks

hopes to build on the success of its 300 series of College Road buildings,

one-story buildings that are particularly suitable for lab space.

It has planned three lowrise and two midrise buildings on property

shared by Plainsboro and South Brunswick. The buildings would total

350,000 feet and would face Schalks Crossing Road, adjacent to 2 and

4 Research Way, but behind the 300 College Road series. The firm has

a planning board presentation April 26.

The developer will begin construction when leases are signed. Unlike

its properties at the Forrestal Center, where the land is owned by

Princeton University, the developer owns the land for the new development.

Seventeen acres are in South Brunswick and 14 are in Plainsboro.

National Business Parks is the managing agent for 815,000-foot College

Park at Princeton Forrestal Center owned by College Road Associates

Limited Partnership.

One-story buildings lend themselves better to laboratory users with

particular needs such as wet labs and drainage, says Tom Stange of

National Business parks. "You can bring in gases, vent through

the roof, saw cut the floor — and not bother any other tenant."

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Route 1 South

That big building going up on Route 1 South as you pass

Forrestal Village will be ready for occupancy on August 1. Built by

a Houston-based developer, Dean Patrinely, it will be a handsome 154,000

square feet, made of cast stone, metal, and glass, says Walter F.

Thomas of the Patrinely Group, and all but 20,000 feet has been leased

to Novo Nordisk and ZS Associates. A second building of 70,850 square

feet is scheduled to be finished by April, 2001. It is renting for

$31 plus tenant electric. The land for these buildings was purchased

from Princeton University.

The design was by Gwathmey Siegel & Associates of Manhattan. Construction

is by Konover Swinnerton of Hartford. Peter Hamburger is among the

Cushman Wakefield agents who are doing the leasing.

"By minimizing the width of the building, we have achieved efficient

floorplate and column-free space for efficient tenant use," says

Joe Ruocco of Gwathmey Siegel. A cylindrical atrium/lobby with glass

block clerestory top lighting will be quite spectacular, says Thomas.

Warm-gray metallic panels form the exterior surface of the atrium

and the eastern facade, and provide a contrast to the cast stone material.

A recessed portico faces the expansive lawn and Route 1, while parking

and the main atrium entrance will be in the back. The second building

will be to the north and perpendicular to the first, to create an

expansive lawn on the Route 1 side.

Thomas entered Princeton University with the Class of 1967. He worked

in real estate in San Francisco and Phoenix before joining the Patrinely

Group.

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Under Development

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Ewing

Birmingham Corporate Center, 1420 Parkway Avenue.

Available square feet: 67,000, divisible to 5,000.

Stephen M. Segal, Stephen Segal, 609-882-3737. Size:

67,000 feet. Proposed office building.

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Plainsboro

Princeton Forrestal Center, 750 College Road East.

Aegis Property Group, James A. Kinzig, 609-393-8457.

Building owner: Aegis Property Group and BerwyndGroup. Size of building:

100,000 square feet. New building.

Princeton Forrestal Village, College Road West.

Available square feet: 70,850, Gross rent,$31. Conditions: plus tenant

electric. Approximate per-month cost: $183,029, gross.

Cushman & Wakefield, Peter Hamburger, 201-935-4000.

Building owner: Patrinely Group. Other tenants: Novo Nordisk, ZS Associates.

Size of building: 70,850 square feet. New building.

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South Brunswick

Epark Princeton, Route 1. Available square feet:

200,000, divisible to 5,000.

Hallbridge Real Estate Group, Suzy Trowbridge/Hal

Hoeland, 609-924-3495. Size of building: 200,000 square feet. State

of art Internet high speed access, good signage, zoning approved.

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Trenton

Trenton Gateway, 526 New York Avenue.

NAI Fennelly, Gerard Fennelly, 609-520-0061. Size

of building: 125,000 square feet. Site good for hotel or office, directly

on Route 1, has existing building, 125,000 square feet proposed, 15.5

acre lot.

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West Windsor

Alexander Park, 700 Alexander Park. Available

square feet: 72,000. Gross rent, $29.50. Conditions: plus tenant electric.

Approximate per-month cost: $177,000, gross.

Trammell Crow, Karen Iman, 609-951-0200. Size of

building: 72,000 square feet. Under construction, available December,

2000.

Princeton Overlook II, 200 Overlook Center Drive.

Available square feet: 150,000.

Mack-Cali Realty subsidiary, Michael Nevins/Toni

Casiano, 908-272-8000. Size of building: 150,000 square feet. Class

A new construction with potential completion date of second quarter,

2001.

Princeton Metro Center, 3 Vaughn Drive. Available

square feet: 98,500.

Mack-Cali Realty subsidiary, Brian Banaszynski,

908-272-8000. Size of building: 98,500 square feet. Class A new construction

with potential completion date of second quarter 2001.

Alexander Commons, 693 Alexander Road. Available

square feet: 27,162, divisible to 1,589. Cost: to be determined.

Compass Realty LLC, , 609-409-2600. Size of building:

47,162 square feet. Available in August. Campus-like setting, three

two-story buildings with common courtyard and 158 parking spaces.

Carnegie Center West. Available square feet: 400,000.

Boston Properties, John K. Brandbergh, 609-452-1444.

400,000 square feet. 10 buildings on the western side of Route 1.

Palladium, Route 1 at Meadow Road.

Steiner Equities Group, Jeffrey Hale, 973-228-5800.

Size of building: 800,000 square feet. 880,000 feet under approval

on 67 acres, adjacent to Carnegie Center with cloverleaf over Route

1 now in site plan review, potential to break ground spring, 2001.

Designed by Hillier Group with T&M Associates as engineers.

Carnegie Center, Canal Pointe Boulevard and Carnegie

Boulevard. Available square feet: 140,000, divisible to 5,000.

Hallbridge Real Estate Group, Suzy Trowbridge/Hal

Hoeland, 609-924-3495. Building owner: Beaverkill Associates. Size

of building: 140,000 square feet. Class A building, cutting edge telecommunications,

zoning, ROM.


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