Bloomberg signs lease for another NJ office building.

Bloomberg L.P., the international financial information services, news, and media company, has leased 400 College Road East, a 72,000 SF building in College Park, N.J. at the Princeton Forrestal Center.

The announcement of the new lease was made by Vincent Marano, COO of National Business Parks, managers of College Park, who said that Bloomberg is scheduled to take occupancy of the two-story structure in July. About 300 employees will be based in the building.

"It is a great pleasure to welcome a company of this stature to College Park. As landlords, National Business Parks is committed to providing the highest-level business environment for our tenants and we certainly will do everything in our power to justify Bloomberg's confidence in us," said Marano.

Marano and Tom Stange, NBP leasing executive, represented the landlord in the transaction. Bloomberg was represented by NAI's Jerry Fennelly.

Prior to Bloomberg's move, NBP will undertake a major architectural remodeling of the building, designed specifically for the new tenant. Under the program, the lobby will be renovated to include a new atrium reception area. In addition, all public spaces, elevators, and rest rooms will be refurbished.

College Park is an award-winning corporate center that has special appeal to Princeton's high-tech research and development firms. Located on Route 1 at the heart of the famed corporate corridor, College Park offers an extraordinary array of amenities. Within its meticulously maintained campus, rolling lawns and wooded areas form a natural backdrop for the sophisticated architecture of its low-rise buildings. Athletic fields; basketball courts, and bike and hiking trails provide a pleasant respite during the workday. The park contains on-site cafeterias and is within walking distance of the Doral Forrestal Hotel and Conference Center. Tenants at the property include General Electric, Panasonic, FMC Corp., Hitachi, Physiome Sciences, Orchid Bioscience, Carter Wallace and Baxter International (Nextran).

In addition, a new extension to College Park has been announced. To be known as Princeton Business Parks, the new 350,000. SF complex will contain three low-rise buildings designed specifically as research and development facilities and two four-story office buildings.

It is being developed on a build-to-suit basis, with construction planned to begin later this year.

College Park is owned by College Road Associates, L.P., a joint venture of Lawrence Zirinsky Associates and Pocantico Associates.