Woodmont Properties inks long-term, 36,600 s/f lease
WEST WINDSOR, NJ — Woodmont Properties, a commercial and residential developer, announced that a global pharmaceutical company has a signed a 36,600 s/f lease at 400 Alexander Park, an office building in West Windsor Twp., which was recently renovated to attain LEED certification.
400 Alexander Park will serve as U.S. headquarters for this global company.The tenant, which will occupy the third and fourth floors of the building, was represented by Scott Crumley of Tactix Real Estate Advisors, LLC, while Woodmont Properties was represented by Steve Tolkach, Adam Silver and John Calvo of Newmark Grubb Knight Frank.
Recently, Woodmont Properties initiated an $11-million capital improvement program at 400 Alexander, implementing a number of upgrades that have enhanced the overall energy performance of the property as it works toward LEED certification. The renovations include the addition of a new curtainwall system; a redesign of the lobby and all of the building’s core areas including elevators and restrooms; and the installation of new mechanical, electrical and energy efficient heating and air conditioning equipment.
“With everything from its floors to its façade having been upgraded with sustainable and environmentally friendly materials, 400 Alexander is essentially a brand new building,” said Eric Witmondt, chief executive officer of Woodmont Properties. “In addition to the modernization of the property, the company was drawn to the boutique building’s smaller floor plates and higher window ratio, which allow more natural light to fill the space.”
400 Alexander is within three miles of downtown Princeton and Princeton University, and is located a half-mile from the Princeton Junction train station. The property, which currently has 35,000 s/f of space available for lease, is also only a half-mile off of Rte. 1, and is in close proximity to the New Jersey Turnpike, I-105, I-295 and Rte. 130.
“Having worked in the Princeton market for the past 28 years, it is clear that 400 Alexander is a unique and innovative property that is becoming known as one of the top assets in the area,” said Tolkach. “With its location right in the center of where everyone wants to be, and near a walking path that leads directly to Princeton Junction train station, the tenant was able to receive a substantial incentive through the Grow NJ program.”