500 College Road East in Plainsboro — Courtesy: JLL
By Joshua Burd
Bergman Real Estate Group is reaping the benefits after upgrading a Princeton-area office building, having leased more than 60,000 square feet at the property over the past 12 months.
According to JLL, the agency team at 500 College Road East, notable transactions in 2024 included a long-term renewal by Deloitte LLP. The accounting and consulting giant has been a tenant at the 160,000-square-foot building in Plainsboro since 2010, brokers said, noting that the firm just debuted a fully renovated, modern workspace to house its employees.
JLL Executive Director Vinny DiMeglio and Vice President Erin Moran represented Bergman in the transaction and several others, including a lease by digital marketing agency NetElixir. They said the tenant, which was represented by Ed Duenas, Ryan DePaul and Dan DeSanctis of Cushman & Wakefield, is moving to 500 College Road East from 3 Independence Way.
“Today’s office tenants continue to seek the type of differentiated space we are committed to providing at 500 College Road East,” said Michael Bergman, CEO and president of Bergman Real Estate Group. “The leasing momentum we have enjoyed across 2024 reflects ongoing trends towards well-located, highly amenitized office space and we look forward to continuing to meet the needs of those tenants as we move into the New Year and beyond.”
Bergman recently completed a major renovation at the property, part of the 2,200-acre Princeton Forrestal Center campus, with a focus on health, wellness and sustainability, according to a news release. Upgrades to the four-story building included an overhaul of all mechanical systems, the addition of energy-efficient HVAC equipment, new LED lighting, updated landscaping and outdoor seating areas, plus a bike-share program that allows tenants to take advantage of the surrounding trails.
The landlord also added amenities such as an advanced fitness center with showers and locker rooms, a shared conference center, an expanded full-service café and a game room with shuffleboard and billiards tables. Other additions included rooftop solar panels, while the firm plans to add electric vehicle charging stations.
In another transaction, Kyocera Document Solutions America Inc. signed a new lease for an undisclosed amount of space. CBRE’s Peter Shikar represented the tenant, a division of Japan’s Kyocera Corp. focused on transforming information management.
Meantime, Macleods Pharma USA Limited will relocate to 500 College Road East from 103 College Road East as part of a separate deal announced by JLL. DiMeglio represented the tenant.
Fast-growing pharma tech firm ProcDNA also leased space at the property as part of its continued expansion, JLL said. Brody Todd of Cushman & Wakefield represented the firm, one of the fastest-growing private companies in America.
Aside from Deloitte, JLL secured a renewal from Dale Carnegie, a global organization providing professional development courses in 35 languages across 80 countries. Pat Dintrone and Jerry Fennelly of Fennelly Associates represented the tenant.
The transactions coincide with the move-in of Accurant Biotech Inc., which last year signed a long-term lease for 26,566 square feet of lab and office space.
“Bergman Real Estate Group has been a tremendous steward of 500 College Road East and their astute investment in further elevating its premium corporate amenities and modern design is an effective strategy to attract long-term occupants, command higher rents and enhance the property’s overall value,” DiMeglio said.
The team noted that the master-planned Princeton Forrestal Center is home to more than 175 businesses and a mix of academic, research, office, residential and hotel uses, as well as conference centers, retail and dining facilities, all surrounded by more than 700 acres of preserved open space and extensive car parking. The property has multiple transportation options and proximity to interstates 95 and 295 and Route 206, giving tenants easy access to the Northeast Corridor by car or by rail on either NJ Transit or Amtrak.
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