EWING, NJ — Vision Real Estate Partners has joined one of its repeat capital partners to provide property management and operational support for Princeton South Corporate Center in Ewing. The firm’s involvement in the 268,000 s/f, class A office property represents its foray into the Princeton market.
The two-building Princeton South Corporate Center campus fronts on I-95 at the junction of Rote. 31 (Exit 4), just 10 minutes from downtown Princeton. “This is an institutional-quality asset in a unique location,” said Vision Real Estate Partners’ Sam Morreale, founding and managing partner. “Our firm has a long-standing relationship involving multiple assets with the property’s ownership, operating here as Princeton Office Center, LLC. The organization acquired Princeton South Corporate Center earlier this year, and we are pleased to be involved as a strategic partner.”
Vision Real Estate Partners has established an onsite office at Princeton South Corporate Center. The firm is providing property management, financial reporting and overall operational supervision in the areas of construction, capital expenditure and leasing, working closely with a brokerage team from Mercer Oak. Already, Vision Real Estate Partners is completing a 30,000-square-foot fit-out for Philadelphia Insurance, a new tenant at Princeton South Corporate Center. The property is 85 percent leased.
Tenants at Princeton South Corporate Center benefit from onsite amenities including conference space, a café and fitness center. The property also includes a Marriott SpringHill Suites. It is surrounded by abundant retail and dining, and offers easy access to Trenton Mercer Airport and mass transit options.
Gaining a Foothold
Morreale noted that Vision Real Estate Partners is actively seeking additional involvement in the greater Princeton area. “This is a market with great potential,” he said. “Companies are drawn here by its position equidistant from both Manhattan and Philadelphia – both of which are within a one-hour drive. A deep, well-educated labor pool rounds out Princeton’s appeal. Our firm is in active acquisition mode, and we are looking at opportunities to expand our presence here.”
Based in Mountain Lakes, Vision Real Estate Partners is a regional, full-service real estate owner/operator. The company currently owns or is developing more than 2 million square feet of space, and holds over 125 acres of land parcels available for mixed-use and build-to-suit opportunities in the region. Vision Real Estate Partners is well known for its deep roots and experience in the New Jersey/New York regional marketplace, and for its track record of identifying properties with great potential and transforming them into superior assets.