LAWRENCEVILLE, NJ—Prism Capital Partners LLC, along with Angelo, Gordon & Co., have teamed up for the acquisition of Princeton Pike Corporate Center, an eight-building, class-Apark in Lawrenceville, N.J., for $121 million from Brandywine Realty Trust.
Located in Mercer County, Princeton Pike Corporate Center totals 800,000 sq. ft. and, at the time of sale, was approximately 90 percent leased. Situated on 100 acres at the intersection of U.S. Route 1 and I-195, Princeton Pike Corporate Center is convenient to downtown Princeton.
“This was a strategic acquisition and an expansion from northern New Jersey into the Princeton marketplace,” said Eugene Diaz, principal of Prism Capital Partners. “Princeton Pike is a high quality set of assets in a cohesive office park environment, one that also offers futureopportunities on approved land. We are also very familiar with the asset, dating back to a relationship with the original developer, DKM, so this acquisition made complete sense.”
Buildings within the center were constructed between 1984 and 1990. Tenants at the center include Langan Engineering, Sirius XM Radio, Stark & Start, the Princeton Healthcare System and Ono Pharma, among others.
Prism is handling theof Princeton Pike Corporate Center.