Cushman & Wakefield arranged two leases — one for State Street Bank and one for Dr. Reddy’s Laboratories — totaling 115,000 square feet at Princeton Point, an office property located at 600 College Road E. in Princeton, according to a Wednesday announcement.
Cushman & Wakefield’s Kevin Carton and Todd Elfand represented the landlord, Nuveen Real Estate, in the transactions.
Dr. Reddy’s Laboratories signed a 53,000-square-foot lease. The tenant was represented by Shawn Straka, who co-leads Cushman & Wakefield’s Life Science Practice Group in New Jersey.
“Life Science tenants remain committed to the greater Princeton market due to the excellent access to a highly educated workforce, proximity to New York City and Philadelphia and abundance of retail and dining options,” Straka said.
“As evidenced by these transactions, tenants remain committed to high-quality real estate assets,” Elfand said. “With a stable balance sheet and smart investments in property renovations, Nuveen continues to create a rewarding work environment, making this Princeton property an ideal choice for top employers seeking a best-in-class workplace.”
State Street Bank renewed its 63,000-square-foot lease. The tenant was represented by JLL.
Princeton Point is a two-building, Class A office complex located within Princeton University’s 2,000-acre master-planned business and research campus. The property features newly designed building entrances, on-site café and restaurant, conference center, courtyard with outdoor private seating and on-site electric vehicle charging stations.
Princeton Point, which offers immediate access to Route 1 and downtown Princeton, is in close proximity to Newark Liberty International Airport, Princeton Junction Commuter Rail, retail stores, restaurants and hotels at the Forrestal Center.
“We are thrilled to welcome Dr. Reddy’s Laboratories and to retain our tenant, State Street Bank, at Princeton Point,” Nelly Othman, senior associate of workplace, retail and mixed-use at Nuveen Real Estate, said. “With full amenities and quick access to downtown and numerous transportation hubs, Nuveen meticulously renovated this building to be the complete package.”
