Offering immediate access to major roadways, a Lawrenceville office building is set for a multimillion-dollar upgrade following its sale.

Colliers announced the $4.4 million transaction involving the Quakerbridge Executive Center located at 101 Grovers Mill Road in Mercer County before the July 4 weekend. A team from the global diversified professional services and investment management company represented the seller, Murray Construction. An affiliate of Millburn’s Pentaurus Properties acquired the three-story property.

New ownership plans to renovate the 77,530-square-foot property, bringing it into “the modern age of office space,” according to the July 2 announcement.

Colliers Vice Chair Jacklene Chesler, Vice President Patrick Norris, Director and Senior Financial Analyst Philippe Jomphe, and Senior Financial Analyst Matthew Cohen represented Millburn-based Murray Construction.

The building is currently 47% leased, according to Colliers. Tenant Szaferman Lakind anchors the office building. Colliers highlighted the law firm’s 40-plus years of tenancy as highlighting the long-term stability of the site and its strong community ties.

In good company

Boosting the property’s potential, the location includes direct access to Route 1 and Interstate 295. In addition to connecting the site to nearby Princeton and Trenton, the building is within the greater Philadelphia area.

Quakerbridge Executive Center also offers a strategic spot across from the Quaker Bridge Mall. Placer.ai data identifies the retail complement as a Top 5 Community Shopping Center within Mercer County.

“The property benefits from a convenient amenity rich location, but lacks the features that today’s office market requires,” said JD Moore, the asset manager in charge of this project. “Today, it is more important than ever to have your team want to be in the office – and the first step is providing them with a beautiful functional environment.

“We plan on renovating every aspect of the complex and are offering aggressive TI packages to incentivize users to move. Whoever our future tenants wind up being, they are going to be very happy here. We just love the project,” he added.

Colliers identified the Route 1 corridor as a key driver of office space in the Princeton submarket. According to the firm’s first quarter office report for 2025, Central Jersey has approximately 83 million square feet of inventory. Meanwhile, asking rents hold steady at $28.29 per square foot, pointing to local supply for in-demand, high-quality space.