PRINCETON, N.J. (March 10, 2022) – Bergman Real Estate Group, a full-service real estate investment and management company based in Woodbridge, New Jersey, announced that six new leases totaling over 27,700 square feet have been signed at 500 College Road East in Princeton, New Jersey.
According to Vinny Di Meglio and Erin Moran of Jones Lang LaSalle, the exclusive leasing agents for the building, the new leases ranged from 1,500 to 13,700 square feet and represented industries, including pharmaceutical, financial and computer technology businesses. The largest lease was with Agile Therapeutics, a publicly traded, women-centric healthcare company. Jason Benson of Jones Lang LaSalle of Parsippany, New Jersey represented the tenant.
500 College Road East is a 160,000-square-foot, four-story office building that Bergman Real Estate Group acquired a year ago in joint venture with Hornig Capital Partners. The property is located within the Princeton Forrestal Center, a 2,200-acre master-planned, mixed-use development community located at the interchange of U.S. Route 1 and College Road, within minutes of Princeton University and downtown Princeton. Forrestal Center is home to more than 175 businesses and numerous mixed-use venues including academic, research, office, residential, hotels, conference centers, retail and dining facilities, as well as 700 acres of preserved open space.
“We are super excited with the brisk leasing activity during our first year of ownership,” says Michael Bergman, president and CEO of Bergman Real Estate Group. “We welcome our newest tenants to 500 College Road East, who will enjoy a best-in-class office experience as we complete a major renovation overhaul of the property this month.”
According to Bergman, their $4 million improvement program is expected to be completed by the end of March. The primary improvements designed by architect, Ware-Malcomb include: a complete newly designed four-story atrium lobby and common areas throughout the building, a full-service café with all-new equipment and furniture, an upgraded fitness center with locker rooms and showers, all remodeled restrooms, and a new entrance courtyard with beautiful landscaping and café table seating. Additional building renovations include all new LED lighting, upgrades to mechanical systems and a planned rooftop solar panel system coming later this year.
In addition to these design improvements, Bergman is adding new amenities, including a multimedia conference and training center, a lounge/game room with pool and shuffleboard tables, and a bike share program for tenants to get outdoor exercise and enjoy the serene grounds of Princeton Forrestal Center.
“As companies continue to return to the office full time, we are confident that 500 College Road East will offer tenants the most desirable services and amenities for the comfort, convenience and well-being of their employees that will attract top talent to their businesses,” Bergman said.
There are currently several available leasing opportunities, ranging from smaller spaces of 1,500 square feet to larger spaces of 26,000 square feet. Prospective tenants and brokers can call Vinny Di Meglio or Erin Moran or JLL at (609) 454-5242 or visit www.bergmanrealty.com.
About Bergman Real Estate Group
Bergman Real Estate Group is a privately owned, full-service real estate investment and management company. With 33 years of history operating in New Jersey and other select markets, Bergman has earned a solid reputation as a reputable and trustworthy owner/manager. The company’s fully integrated platform includes acquisition, ownership, asset and property management, leasing and construction supervision. Bergman, which has built its success on acquiring and successfully repositioning underperforming properties, currently owns and manages 22 office buildings comprising 2.25 million square feet.