Blackrock at Argent Ventures completed a 176,000-square-foot lease extension at 1 University Square Dr. in Princeton, according to a Wednesday announcement from JLL which facilitated the lease.
As part of the transaction, Blackrock extended its obligation for the entire third and fourth floors, partial fifth floor, and ground floor space, while Argent Ventures recaptured half of the fifth floor.
Blackrock has been a tenant in the building since 2010.
University Square is a five-story, 330,000-square-foot Class A office building featuring a two-story atrium lobby, full-service cafeteria with private catering, large media/conference room and state-of-the-art fitness center with locker rooms and sauna. Amenities on the expansive 18.5-acre campus include newly revamped landscaping with walking trail, bocce, basketball and pickleball courts, electric car charging stations and community garden.
The property has a tenant engagement manager who activates amenities and organizes tenant events such as tastings from on-site honeybees, holiday events, free coffee and donuts, and pickleball tournaments.
Completed in 2008, the property is located equidistant to Philadelphia and New York City along Princeton’s Route 1 Corridor. It stands less than two miles from downtown Princeton as well as the Princeton Junction train station with AMTRACK/NJ Transit/Conrail serving the Northeast corridor from Washington, D.C. to Boston.
The JLL leasing team for 1 University Square Place includes Executive Managing Director Tim Greiner, Managing Director Tom Romano, Senior Vice President Vinny DiMeglio, Vice President Mike Pietrowicz and Executive Vice President Jonathan Ortiz. Blackrock was represented in the transaction by JLL Chairman and President, New York Region, Peter Riguardi, Vice Chairman Matt Astrachan, Managing Director Nicole Tiger, Executive Vice President George Gemelos and Associate Vice President Hannah Bernstein.
“This is an ideally located property with market-leading indoor and outdoor amenities that support employer efforts to attract top talent to the office,” Greiner said. “The building is positioned to promote collaboration and innovation with easy access to numerous outdoor recreation experiences.”
In addition to the partial fifth floor that becomes available in the summer of 2025, the full second floor and 13,000 square feet on the first floor are currently available. Other tenants in the building include engineering and environmental services firm Langan and investment consulting firm Mercer.
