-- Two New Leases Cap Active Period at Crossroads Corporate Center in Lawrenceville, N.J. --
Two new leases at Crossroads Corporate Center in Lawrenceville cap an active 12 months of activity at the 100,000-square-foot office property, announced global real estate firm Colliers International Group (NASDAQ:CIGI, TSX:CIG). As exclusive leasing agent, Thomas Romano of the firm’s Princeton, N.J., office has secured five tenants, totaling more than 34,000 square feet.
Most recently, WellCare Health Plans, Inc. (NYSE: WCG) leased 7,000 square feet at Crossroads Corporate Center. The company provides government-sponsored managed care services. Cushman & Wakefield’s Milton Charbonneau, Dave Johnson and Liz Osborne served as tenant brokers. Additionally, Erwin, Inc. took 3,000 square feet at the property. The company has a rich history as the software market’s leading data modeling solution, now growing that role as the foundation when approaching data management for global Big Data Initiatives. Cushman & Wakefield’s Curtis Foster and Jerry Shifrin represented the tenant during negotiations.
Other new occupants at Crossroads Corporate Center include CollaborationCore, which offers flexible workspaces for non-profit organizations (19,000 square feet); specialty pharmaceutical company Lipocine (3,500 square feet); and Kettler Management, a multifamily housing developer and manager (1,700 square feet).
Located at 3150 Brunswick Pike, at the junction of Route 1 and I-95/295, Crossroads Corporate Center maintains a solid leasing history, according to Romano, who has represented the asset for ownerGilbane Inc. since 2001. “Crossroads Corporate Center has attracted a diverse group of businesses seeking quality accommodations at competitive pricing,” he said. “Class A rental rates have increased dramatically along the I-95/295 corridor in Mercer County, which is driving demand for A-minus and B-plus assets that offer significant savings of as much as 20%-30%.
He added that Crossroads Corporate Center’s location is particularly advantageous for commuters coming north from Bucks County, Pennsylvania, or southern New Jersey – as it is the first building off of I-95/295 at Route 1. Tenants also benefit from the property’s proximity to Quakerbridge Mall and other area amenities.
Romano is marketing only three remaining available units – of 1,700 and 4,200 square feet, and an 8,900-square-foot sublease – at Crossroads Corporate Center.
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