PLAINSBORO--Cushman & Wakefield, Inc. has been named exclusive leasing agent for IvyCrossing at Princeton Forrestal Center, the 770,000-sf Merrill Lynch corporate facility that Ivy Equities and a Philadelphia-based real estate development company acquired.
The firm is marketing 315,000 sf of Class A office space that will come available at the property next spring.
Peter Hamburger, Robert Rudin, Harlan Hollander and Andrew Judd of Cushman & Wakefield’s East Rutherford office, and Lou D’Avanzo and Franklin Speyer from the firm’s Manhattan headquarters are handling the assignment.
Merrill Lynch, which reorganized its Plainsboro operation into another area office, vacated the property in early 2008. BlackRock, Inc., which recently merged with Merrill Lynch’s Investment Management Group, already is leasing approximately half of the property.
Located in Princeton Forrestal Center, IvyCrossing occupies 50 pastoral acres just off Route 1, with proximity to l-95/The New Jersey Turnpike, Interstates 195 and 295, and Routes 27 and 206. Ivy Equities has an extensive multi-million dollar program of capital improvements, all aimed at LEED certification, including a new grand entranceway, common areas, cafeteria and an updated landscaping program.
The property also connects to the newly branded Wyndham Princeton Forrestal Hotel and Conference Center, which is undergoing a major capital improvement project of its own. In addition, the facility sits directly across the street from where Princeton Medical Center is planning to relocate.
Cushman & Wakefield
www.cushwake.com
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