NBP Signs Four Leases at College Park

PRINCETON, NJ-National Business Parks has signed four tenants to new, expanded or renewal leases at College Park at Princeton Forrestal Center here. NBP manages and leases the park for owner Lawrence Zirinsky Associates. Terms of the various leases were not released; available space in the park is listed with asking rents hovering around the mid-$20s.

“The past quarter has been active at College Park,” says NBP president Vincent Marano, who with leasing executive Tom Stange represented the owner. “Admittedly, we have several advantages, particularly for firms looking for the Princeton address.”

In the largest of the new signings, GPC Biotech has added 7,700 sf to its existing 16,400 sf at 101 College Rd. E., for a total occupancy of 24,100 sf. Bill Barish of Commercial Property Network repped GPC, a German-based firm that develops anticancer drugs.

Also at College Road East, Via Pharmaceuticals, a San Francisco-based company focused on cardiovascular treatments, has taken 2,000 sf in a new, long-term lease. Via was represented by Hal Hoeland of Henderson Sotheby’s International Realty.

At 2 Research Way, long-time College Park tenant General Land Abstract has renewed its lease for 5,000 sf. And at 103 College Rd. E., Elan Software Systems, a multi-national firm based in Toulouse, France, has leased 3,400 sf. C.J. McCourt of NAI Fennelly represented Elan, which is relocating from another Princeton address. The various leases bring College Park to the 95% leased mark.

NBP is also rolling out its leasing program for 400 College Rd. E., a 72,000-sf building that’s currently vacant. The program follow a $13-million upgrade for the asset, which was vacated earlier this year by Bloomberg Financial when it relocated to larger quarters in the region.