Woodbridge-based Bergman Real Estate Group announced Thursday that six new leases totaling over 27,700 square feet have been signed at 500 College Road E. in Princeton.
According to Vinny Di Meglio and Erin Moran of Jones Lang LaSalle, the exclusive leasing agents for the building, the new leases ranged from 1,500 to 13,700 square feet and represented industries including pharmaceutical, financial and computer technology businesses. The largest lease was with Agile Therapeutics, a publicly traded, women-centric health care company. Jason Benson of JLL in Parsippany represented the tenant.
500 College Road is a 160,000-square-foot, four-story office building that Bergman Real Estate Group acquired a year ago in joint venture with Hornig Capital Partners.
The property is located within the Princeton Forrestal Center, a 2,200-acre master-planned, mixed-use development community located at the interchange of Route 1 and College Road, within minutes of Princeton University and downtown Princeton.
Forrestal Center is home to more than 175 businesses and numerous mixed-use venues, including academic, research, office, residential, hotels, conference centers, retail and dining facilities, as well as 700 acres of preserved open space.
According to Bergman, a $4 million improvement program is expected to be completed by the end of March. The primary improvements, designed by architect Ware Malcomb include: a complete newly designed four-story atrium lobby and common areas throughout the building, a full-service café with all-new equipment and furniture, an upgraded fitness center with locker rooms and showers, all remodeled restrooms and a new entrance courtyard with beautiful landscaping and café table seating. Additional building renovations include all-new LED lighting, upgrades to mechanical systems and a planned rooftop solar panel system coming later this year.
In addition to these design improvements, Bergman is adding new amenities, including a multimedia conference and training center, a lounge/game room with pool and shuffleboard tables, and a bike share program for tenants to get outdoor exercise and enjoy the serene grounds of Princeton Forrestal Center.
“As companies continue to return to the office full time, we are confident that 500 College Road will offer tenants the most desirable services and amenities for the comfort, convenience and well-being of their employees that will attract top talent to their businesses,” Michael Bergman, CEO and president of Bergman Real Estate Group, said.
