Bergman Real Estate Group acquired 500 College Road E., located in the Princeton Forrestal Center, a year ago in a joint venture with Hornig Capital Partners. This month, the firm anticipates completing its $4 million improvement program at the property, as it welcomes new tenants to the space.
On March 10, Bergman RE announced the completion of six leases comprising a cumulative more than 27,700 square feet at the Princeton property.
JLL’s Vinny Di Meglio and Erin Moran serve as exclusive leasing agents for the building. According to the team, the agreements cover spaces ranging from 1,500 square feet to 13,700 square feet across a swath of industries, including pharmaceutical, finance and technology.
Women-focused health care company Agile Therapeutics signed the largest lease, Bergman RE said, with JLL’s Jason Benson representing the tenant.
500 College Road E. in Princeton is located in the Princeton Forrestal Center. – BERGMAN REAL ESTATE GROUP
“We are super excited with the brisk leasing activity during our first year of ownership,” Bergman Real Estate Group President and CEO Michael Bergman said in a prepared statement. “We welcome our newest tenants to 500 College Road E., who will enjoy a best-in-class office experience as we complete a major renovation overhaul of the property this month.”
Designed by architect Ware-Malcomb, Bergman RE said improvements at the 160,000-square-foot property include a newly designed, four-story atrium lobby and common areas; a full-service café; an upgraded fitness center with locker rooms and showers; remodeled bathrooms throughout; and a new entrance courtyard featuring updated landscaping and café table seating. Upgrades were also made to the building’s mechanical systems, and all new LED lighting was added.
Amenity-wise, a multimedia conference and training center is being added, along with a lounge and game room featuring pool and shuffleboard tables, and a bike share program to allow tenants to explore the 2,200-acre, master-planned Princeton Forrestal Center.
According to the full-service real estate investment and management company, a rooftop solar panel system is planned for later this year.
“As companies continue to return to the office full time, we are confident that 500 College Road E. 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.
