200,000-SF Space Ready for Market

MONTGOMERY TWP., NJ-The 238,000-sf office building at 23 Orchard Rd. here has been officially put on the market for lease following a $3-million repositioning by its owners. A total of approximately 205,000 sf is available in the former CA Inc. regional headquarters building, which the company formerly known as Computer Associates sold to its current owners in late 2005. CA Inc. maintains a small presence in the facility.

Those current owners are JER Partners of McLean, VA and the New Jersey-based Herring Management. The assignment to find tenants is in the hands of Jonathan Meisel, executive vice president at Jones Lang LaSalle in Parsippany.

“This is one of the only class A turnkey locations available in this region,” Meisel says, noting that the 70-acre location in the Skillman section of this Somerset County township is in a submarket of the Greater Princeton area. “But it’s available at a rate one-third less than tenants typically pay for space in the nearby Route 1 Corridor or Downtown Princeton.”

Space in the three-story building, which was built for Computer Associates in 1983, is currently listed on the building’s website with an asking price of $23.75 per sf plus tenant electric. The owners say the multi-tenant leasing campaign is targeting biotech, pharmaceutical and general services companies already located within the region. The makeover of the building included a glass atrium with water feature, new common area surfaces and a complete re-landscaping.