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C&W-NJ broker closes 4 deals in Princeton.

C&W-NJ broker closes 4 deals in Princeton

Cushman & Wakefield of New Jersey's Edward B. Meredith, Jr. has negotiated four separate transactions in the Princeton real estate market with a total aggregate value in excess of $6.1 million.

Nielson-Wurster, a consulting engineering firm, has signed a five year sublease to occupy 29,980 square feet of office space at the Princeton Airport Office Building at 1060 Route 206 in Princeton. The lease has an aggregate rental value in excess of $2.2 million, according to Meredith and Tim Slaight, the Cushman & Wakefield brokerage team that represented both the tenant and the landlord in this transaction. The firm is relocating from Belle Mead, New Jersey and will use the space as its headquarters offices.

Cushman & Wakefield is the exclusive sublease agent for Computer Associates, the firm which currently leases 58,515 square feet of the Princeton Airport Office Building. Meredith and Slaight of Cushman & Wakefield's Princeton office are the brokerage team handling the available space.

The second transaction which Meredith negotiated was for Denby Associates, a display company, at 9 Fairgrounds Drive in Hamilton, New Jersey. The 10-year lease is for 41,000 square feet of the 76,000 square foot, single story building and has an aggregate rental value in excess of $2 million. The firm noted the building's proximity to suppliers and the area's strong employee base as major reasons in its decision to relocate from Plainsboro.

In the third transaction, the Lawrence Township Department of Public Works purchased the 30,000-square-foot former United Parcel Service Building on Baker's Basin Road in Lawrenceville, New Jersey for $1.35 million, according to Meredith, who represented the landlord in the sale. The department will use the space as Lawrenceville's municipal public works facility and offices. The department, which is moving from Second Avenue in Lawrence Township, noted the property's price, size and ability for expansion as primary reasons for the acquisition.

Cushman & Wakefield's Meredith was the exclusive agent for the former United Parcel Service building, a 30,000-square-foot single story industrial building on 15 acres.

In a fourth transaction, Coastline Products Corporation, a stainless steel prefabricator and distributor, signed a five year lease for 24,000 square feet of space at the Wheeling 130 Associates Building on the corner of Route 130 and Wheeling Drive in South Brunswick, New Jersey, according to Meredith, who represented the tenant in the transaction. The firm is relocating from South River, New Jersey and will use the space as its office warehouse/distribution center. The lease has an aggregate rental value in excess of $500,000.
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Title Annotation:Cushman & Wakefield
Publication:Real Estate Weekly
Date:Jun 5, 1991
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