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Marketing leader leases 42,000 s/f in Princeton expansion.

GHP Office Realty, the owner, developer and manager of 29 Thanet Circle in Princeton, New Jersey is reporting the completion of a significant long term new lease with Church & Dwight.

The tenant, which has its corporate headquarters next door on Harrison Street, committed to all of the remaining 42,000 s/f of the newly redeveloped building, which sits on 10 acres in the Township of Princeton, and is one of the only Class A office building available within the Township of Princeton.

GHP Office Realty acquired the building in 2004. At the time the building had been vacant for several years. GHP has invested in excess of $10,000,000 building a brand new state of the art Class A office building with 220 parking spaces, a new facade, new lobbies, new bathrooms, new utility services, a new roof, and new landscaping.

Church & Dwight was founded in 1846 and continues to market, among other consumer products, Arm & Hammer Baking Soda. Recently Church & Dwight has been making several acquisitions and will use 29 Thanet Circle as an expansion of its headquarters. Its 2006 revenues will be nearly 2 billion dollars and is traded on the New York Stock Exchange.

Andrew Greenspan, Principal of GHP Office Realty, commented, "This major lease with such a quality tenant affirms our vision. New quality Class A office space in the downtown Princeton market is a commodity.

Despite all the development in the general vicinity, downtown Princeton remains a special place with significant pent up demand. Church & Dwight shared our vision, and they have a tremendous opportunity to create an extraordinary Headquarters Campus."

GHP Office Realty was represented by Tom Romano of GVA Buschman and Church & Dwight were represented by Jane Moni and Richard Gittleman of Triad Properties. The building architect is Robert Hillier of Hillier Architecture. The Site engineer is Tom O'Shea of Von Note Harvey Associates.

The building is owned and operated by GHP Office Realty, the office building division of Houlihan-Parnes/iCap Realty Advisors, LLC.
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Publication:Real Estate Weekly
Date:Dec 6, 2006
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