A rendering of the completed, two-building Roszel Square office project in West Windsor — Courtesy: Mountain Development Corp. and Gottesman Real Estate Partners
By Joshua Burd
A joint venture has leased up the first of two buildings at a ground-up office project in West Windsor, as it now markets a second that will include about 38,000 square feet.
The team of Mountain Development Corp. and Gottesman Real Estate Partners on Friday announced a lease with Sirius Group, which has taken 4,000 square feet at 21 Roszel Road. The deal brings the 62,500-square-foot building to full occupancy within the two-building Roszel Square development, coming about four years after the debut of the property.
Hill Wallack LLP anchors the building with a 48,000-square-foot lease across the top two floors, while Ripen e-commerce occupies 9,200 square feet on the first floor. In a news release, MDC and Gottesman said Hill Wallack played a major role in planning and personalizing the design of its space and of other aspects of the building.
“MDC’s team was so easy to work with,” said Laura Katana, facilities manager at Hill Wallack. “We had been in our previous, functionally obsolete space since the early ’90s, and MDC really helped us to visualize what we could accomplish as a firm and really made it come to life.”
The joint venture is now looking to secure a tenant of at least 10,000 square feet to anchor the adjacent 19 Roszel Road, which will total about 38,000 square feet, the news release said. The building is fully entitled and shovel-ready, the developers said, touting it as an opportunity for a midsized company to design and create its own space in a top suburban office destination.
“The Princeton/West Windsor market is one of the few in New Jersey that offers tenants the opportunity to move into brand-new, build-to-suit space for exactly the same rental rate that they would pay for older, less-contemporary, second generation offices,” said Michael Seeve, MDC’s president. “We are pleased to welcome another prestigious tenant to 21 Roszel Road and look forward to having one or two companies join in the special community that has been created here at 19 Roszel Road.”
Sab Russo, president of Mercer Oak Realty, said the new building will offer signage opportunities. The space could be delivered to a tenant as soon as 10 months from lease signing, he said, adding that the complex “represents a very viable and visible option for the smaller tenant that may not have ever considered built-to-suit as a possibility.”
“One of the biggest advantages for a lead tenant at 19 Roszel Road is the ability to have the company’s name on the building,” said Russo, whose firm is the building’s leasing agent. “Naming rights for tenants of this size are highly unusual — but extremely valuable — in terms of marketing and creating brand identity for a law or accounting firm, high-tech company or professional services firm. This building’s smaller size will allow tenants to have a big impact.”
