Bergman wins recognition from BOMA for three consecutive years
WOODBRIDGE, N.J., October 26, 2023 — For the third year in a row, Bergman Real Estate Group has received highest honors from the Building Owners and Managers Association (BOMA) New Jersey.
The 35-year veteran real estate firm received the 2023 TOBY Award in the 100,000- 249,999 square-foot category for Outstanding Building of the Year for 500 College Road East in Princeton, New Jersey. The recognition ranks among the highest honors bestowed by the commercial real estate group.
“Our team has done an outstanding job bringing new life to 500 College Road since we acquired the property in 2020,” said Michael Bergman, President and CEO of Bergman Real Estate Group. “We are honored to be recognized by New Jersey’s real estate community for the extensive efforts we spearheaded to modernize and beautify this Class-A office space.”
Bergman Real Estate Group was presented with the award at the October 25, 2023, BOMA Awards Celebration, held at the Pleasantdale Chateau in West Orange, New Jersey. Robin Juron, Senior Property Manager, accepted the award on behalf of Bergman Real Estate Group.
“To receive a TOBY Award is a high honor in our industry,” Juron said. “It’s a welcome reminder that we’re succeeding at our mission to deliver the best-in-class office properties in highly desirable locations throughout New Jersey.”
Juron recognized the entire Bergman team, as well as the general contractor, Phoenix Construction, and the designers involved in the project, including Ware Macomb, CFI Furniture, and Corporate Art, whose collective visions truly transformed the building.
The four-story, 160,000-square-foot office building at 500 College Road East is located within the renowned Princeton Forrestal Center development, comprising 2,200 acres of master-planned, mixed-use space. Within the Princeton Forrestal Center are nearly 200 businesses and several mixed-used spaces, including conference centers, hotels, and office, dining, academic, retail, research, and residential facilities, as well as 700 acres of preserved open space.
The building is located a half mile from the interchange of U.S. Route 1 and College Road, placing it within minutes of Princeton University and downtown Princeton. Its location, along with the building’s impressive list of amenities, is what attracts signature tenants like Accurant Biotech Inc., a life sciences company that signed a 10-year lease in May 2023 — which at the time was one of the largest transactions in the Princeton area.
Bergman Real Estate Group spearheaded a multi-million-dollar capital improvement campaign in 2021, shortly after acquiring the building. The campaign included a newly redesigned four-story atrium lobby and major upgrades through all common areas. A full-service café with new equipment and furniture, an upgraded fitness center with locker rooms and showers, a lounge and game room with pool and shuffleboard tables, and a new tenant conference center were part of the capital improvement program as well. Recreational walking paths and a bike program are also available, so tenants can take advantage of the campus’s serene setting.
“Our modernization of the facility has led to tremendous tenant retention and the signing of 12 new tenant leases totaling 70,000 square feet,” Bergman said.
According to Bergman, the firm received TOBY Awards the last two years. In 2022, Bergman received a TOBY Award for 201 West Passaic Street/Sherbrooke Office Center II, a 65,000-square-foot, four-story office building located in Rochelle Park, New Jersey. The firm received a TOBY for Century Campus, a three-building office park comprising a 280,000-square-foot campus in Parsippany, New Jersey, in 2021.
“Our team remains committed to servicing our tenants with excellent management and forward-thinking vision for each property,” Bergman said.
Several spaces are available for lease at 500 College Road East, ranging from 2,545 square feet to 12,228 +/- square feet. Prospective brokers and tenants can contact the building’s exclusive brokers, Erin Moran or Vinny Di Meglio of 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 35 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 and one retail shopping center comprising 2.33 million square feet.