LAWRENCEVILLE, N.J. - Sirius XM Radio Inc., the world's largest radio broadcaster measured by revenue, has renewed its 27,500-square-foot commitment at Princeton Pike Corporate Center in Lawrenceville, announced Edwin Cohen, a principal partner with Prism Capital Partners, LLC. Prism, in a joint venture partnership owns the eight-building, 800,000-square-foot, Class A office park.
Sirius XM Radio has maintained an operations center at 989 Lenox Drive since 2008. Bob Morford from Morford & Dodds Realty Company represented the firm in its long-term renewal transaction.
The Prism Partners joint venture partnership acquired Princeton Pike Corporate Center earlier this year. Constructed on 100 acres between 1984 and the early 1990s, the complex features buildings with central atriums, cafés and fitness centers, and also offers future, approved development opportunities. It sits at the intersection of U.S. Route 1 and I-195, just minutes from downtown Princeton.
"Princeton Pike Corporate Center's quality and location have attracted an impressive mix of companies, with Sirius XM among the many household names located there," Cohen noted. "These same attributes drew our firm as an investor. Now, our objective is to uphold and enhance the property's business environment so these valued tenants will choose to stay and new tenants will be attracted to the complex. The Sirius XM renewal shows that we are meeting this goal." The ownership recently launched a capital improvement program, including elevator modernizations, common area and restroom renovations, roof replacements and parking lot repairs.
Princeton Pike Corporate Center is approximately 90 percent leased. In addition to Sirius XM Radio, key tenants include Wells Fargo Advisors, Stark & Stark, Princeton Healthcare Services, Fox Rothschild LLP, MetLife Solutions Group, Philadelphia Insurance Companies and Ono Pharma USA, Inc., among others.