Prism Capital Partners, LLC
200 Broadacres Drive
Bloomfield, NJ 07003
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Release Date: Wednesday, January 07, 2015
Media Contact: Evelyn Weiss Francisco (201) 796-7788
Industry Veteran Overseeing Operations at Princeton Pike Corporate Center
LAWRENCEVILLE, N.J., Jan. 7, 2015 – Richard Margerison, Jr. has joined the team at Prism Capital Partners, LLC as senior property manager, announced Edwin Cohen, principal partner. In his new position, he is heading management of the commercial real estate owner/operator's Princeton Pike Corporate Center, an eight-building, 800,000-square-foot Class A office park in Lawrenceville.
Prism Capital Partners, in a joint venture with Angelo, Gordon & Co., acquired Princeton Pike in 2013. Since then, the firm's Prism Property Services division has worked to enhance the property's best-in-class working environment and tenant services. A multi-million-dollar capital improvement program highlights these efforts. Nearing completion, the project includes extensive cosmetic, mechanical and amenity upgrades.
"The focus at Prism is on improving property value and providing great spaces for businesses," Margerison noted. "I appreciate the company's entrepreneurial approach, which empowers me to work within a flexible set of guidelines to implement some of my own ideas for helping tenants achieve their goals and to create a stronger sense of community at the Princeton Pike Corporate Center."
With more than two decades of industry experience in property and facilities management, project management, and construction, Margerison previously held senior-level positions at CBRE/Trammell Crow Company and The Gale Company. He holds active memberships in the Building Owners and Managers Association and the International Facility Management Association.
"Rick is an accomplished industry veteran and senior-level executive," Cohen noted. "He has a long track record of leadership and relationship-building, and improving operations, and services while efficiently reducing costs and improving profitability – making him an excellent addition to our team."
Constructed on 100 acres between 1984 and the early 1990s, Princeton Pike is approximately 90 percent leased, with key tenants including Wells Fargo Advisors; Stark & Stark; Princeton Healthcare Services; Fox Rothschild LLP; MetLife Solutions Group; Philadelphia Insurance Companies; and Ono Pharma USA, Inc., among others. The complex features buildings with central atriums, cafés and fitness centers. The campus also offers future, approved development opportunities. It has land for build-to-suit development in excess of 300,000 square feet. The property sits at the intersection of U.S. Route 1 and I-195, just minutes from downtown Princeton.