Woodbridge-based Bergman Real Estate Group helped life sciences company, Accurant Biotech negotiate and sign a 10-year lease for 26,566-square-feet of office space at 500 College Road East in Princeton.
Accurant Biotech is expanding into Princeton from its current East Windsor, New Jersey location. Move-in is slated for August 2023.
“We are thrilled that Accurant Biotech, Inc. has joined our prestigious tenant roster at 500 College Road East,” Michael Bergman, president and CEO of Bergman Real Estate Group said. “This is a significant lease transaction in the Princeton area, and is the direct result of our recent capital improvement program, new building services, and the scarcity of lab space.”
“Our relocation to 500 College Road, with its extensive amenities offered and prestige of the location provides us the opportunity to expand and modernize our workspace, attract and retain the best talent and continue to provide the innovation our firm is known for,” Dongbei Li, Accurant’s co-founder and U.S. Site Head said.
According to Vinny Di Meglio and Erin Moran of JLL, the exclusive leasing agents for 500 College Road East.
“They love the cache of having a Princeton address and at the same time and they wanted to be in a building that offers a wide array of amenities that they could provide to their staff, thanks to Bergman’s recent $4 million capital improvement,” Vinny Di Meglio said. “When it comes to attracting new tenants, amenities are vital for recruitment.”
500 College Road East is a four-story, 160,000-square-foot office building that Bergman Real Estate Group, in a joint venture with Hornig Capital Partners, acquired in 2021. The building’s renovations included new amenities such as an advanced fitness center with showers and locker rooms, a shared conference center, an expanded full-service café, a game room with shuffleboard and billiards tables, and a bike share program. Rooftop solar panels were installed, and electric vehicle charging stations are soon to come.
The building is located within the Princeton Forrestal Center, located at the interchange of College Road East and U.S. Route 1. This 2,200-acre master-planned, mixed-use development community is home to nearly 200 businesses and several mixed-used venues such as hotels, conference centers, dining, research, office, academic, residential, and retail facilities, alongside 700 acres of preserved open space.
“Accurant Biotech’s expansion to 500 College Road East is a reminder that modern businesses are prioritizing office spaces with advanced services and amenities that provide an inspiring work environment, which improves employee morale and recruiting efforts,” Bergman said. “We expect additional interest in the property from leading firms in life sciences, computer technology, pharmaceutical, finance, and other sectors in which employees and employers alike demand the high-quality facilities available at 500 College Road East.”
As of the Accurant Biotech, Inc. lease signing, 500 College Road East is 70% leased, with the remaining leasing opportunities ranging from smaller spaces of 2,500 square feet to larger spaces of 12,000 square feet.
