JLL picked for 240,000 s/f Orchard Road exclusive.
The assignment will be overseen by Jonathan Meisel, executive vice president, and Susan Mason, senior vice president, both with Jones Lang LaSalle's New Jersey office. The 23 Orchard Road building is located west of the intersection of Route 206 and Route 533, a few miles north of downtown Princeton.
"The 23 Orchard Road building is a unique facility that lies on 70 acres of land and includes a tennis court, ball field and a sand volleyball court," said Meisel.
"JER Partners and Herring Management specialize in multitenant buildings and plan to reposition the property, which is nearly entirely occupied by Computer Associates."
The owners have earmarked approximately $2 million to renovate and upgrade the building for multitenant use. The building's entry points, lobby and common areas will be improved, and a new elevator installed. Computer Associates will continue to occupy 23 Orchard Road through 2007.
JER Partners and Herring Management purchased 23 Orchard Road from Computer Associates International Inc. in late December 2005.
The seller was represented by Brad Heming, senior vice president, with Jones Lang LaSalle's Washington, D.C., capital markets team; Nat Rockett, senior vice president with the company's New York capital markets team; and Meisel.
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|Title Annotation:||NEW JERSEY|
|Publication:||Real Estate Weekly|
|Date:||Apr 19, 2006|
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