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Praedium's $20m sale.

The Praedium Group LLC announced the sale of the Princeton Pike Corporate Center I in Lawrenceville, New Jersey to Brandywine Realty Trust of Plymouth Meeting, Pennsylvania for $20 million, or $179 per s/f

Built in 1984, and renovated between 1995 and 2003, the 112,000 square toot, three-story office building is located within the Class A Princeton Pike Corporate Center. This office campus contains mature landscaped grounds and excellent visibility along the northern side of both Interstate 29/295 and Princeton Pike at Exit 8B. The property is currently 97% occupied by major tenants in the health, public utility, technology, consulting and financial services industries.

The CB Richard Ellis New York Tri-State Investment Team, led by Jeffrey R. Dunne, in collaboration with Lynn DeMarco, represented both the buyer and seller.
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Title Annotation:sale of office building
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Jan 14, 2004
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