Cushman & Wakefield Tapped to Rep 770,000 SF

Cushman & Wakefield, Inc.  has been named exclusive leasing agent for Ivy-Crossing at Princeton Forrestal Center, the 770,000 s/f Merrill Lynch corporate facility that Ivy Equities and a Philadelphia-based real estate development company acquired.  The firm is marketing 315,000 s/f of Class A office space that will come available at the property next spring.

Peter Hamburger, Robert Rudin, Harlan Hollander and Andrew Judd of Cushman & Wakefield’s East Rutherford, N.J., office, and Lou D’Avanzo and Franklin Speyer from the firm’s Manhattan headquarters are handling the assignment.

Merrill Lynch, which reorganized its Plainsboro operation into another area office, vacated the property in early 2008.  BlackRock, Inc., which recently merged with Merrill Lynch’s Investment Management Group, already is leasing approximately half of the property.

“We are marketing the balance of the building to one or two users seeking a large block of space in a fantastic location,” Hamburger noted.  “This property’s amenities, accessibility, building quality and responsive, institutional ownership make it an incredible opportunity in the desirable Princeton submarket.”  An adjacent site can accommodate nearly 700,000 s/f of additional office development.

Located in Princeton Forrestal Center, Ivy Crossing occupies 50 pastoral acres just off Route 1, with proximity to I-95/The New Jersey Turnpike, Interstates 195 and 295, and Routes 27 and 206.