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Talent Accessibility, Amenities Upgrades at Class A Office Asset are Driving Leasing Activity
Princeton, NJ, June 3, 2020 – Cushman & Wakefield announced that United Silicon Carbide (UnitedSiC), a leading manufacturer of silicon carbide (SiC) power semiconductors, has taken 11,200 square feet of first-floor office space at 650 College Road East in Princeton.
The leasing team of Todd Elfand, Kevin Carton, Paul Giannone and Joe Vacca, based in the commercial real estate firm’s Iselin office, represented the landlord, Nuveen Real Estate, in brokering the lease. John Buckley and Jon Compitello of Jones Lang LaSalle represented the tenant.
“UnitedSiC was looking for space with a Class A environment and easy access to major highways,” said Elfand. “The property’s picturesque setting and upgraded amenities, coupled with Nuveen’s ability to complete the transaction during the COVID-19 pandemic, made 650 College Road East a great option.”
Nuveen has partnered with a well-known local developer to reposition the asset by updating the common areas and amenities at the 168,000-square-foot property. The site features a dramatic 60-foot glass atrium and outdoor courtyard with a seating area and private patio, as well as a new café and conference facility in its sister building at 600 College Road East.
Cushman & Wakefield continues to market the remaining 58,121 square feet at 650 College Road East and can assemble approximately 70,000 square feet of contiguous space at 600 College Road. The campus is located within Princeton University’s 2,000-acre master-planned business/research campus with the building offering access to the market’s robust labor pool, making it ideal for companies that are focused on recruiting and retaining top talent. The site is conveniently situated one mile from Route 1, easily accessible to downtown Princeton and minutes from retail and restaurants at Forrestal Village. Bus and rail transportation are available in close proximity, including a commuter train connection to the Northeast Corridor Line’s Princeton Junction Station.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About Nuveen Real Estate
Nuveen Real Estate is one of the largest investment managers in the world with $131 billion of assets under management. Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, Nuveen provide access to every aspect of real estate investing. With over 80 years of real estate investing experience and more than 600 employees located across over 25 cities throughout the United States, Europe and Asia Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise. For further information, please visit us at www.nuveen.com.
Media Contact:
Karen Ravensbergen/Emily Visco
Caryl Communications
201-796-7788
karen@caryl.com/ emily@caryl.com