Ownership was represented in-house by Daniel S. Ackerman, seniordirector of leasing for Lincoln Equities of Rutheford, NJ. Lincolnteamed up with Meritage Properties and Avenue Capital to acquireAmerican Metro Center in mid-2006 from PREI for a reported$70 million.MACTEC was represented by the Atlanta office of GVA Williams. Termswere not released, but availabilities at the property are currentlylisted with an asking price of $25.50 per square foot.

|

"MACTEC was one of the first tenants in the American MetroCenter complex, and we've seen the continual efforts in beautifyingit," says Andrew G. Shust, the firm's senior scientist and projectmanager. "Knowing what the complex was like just three years agocompared to today makes it a delight."

|

Originally built in 1918 and formerly known as the AmericanStandard Building, American Metro Center was completely overhauledin 2004/2005 by previous owner PREI, a project that added a retailcomponent. The new ownership has continued that process, adding acafé and a fitness center. The 112-acre property is along PrincetonAve. near the Hamilton train station in the Princeton corridor.

|

"Its position in the Princeton submarket is continuallyattracting companies looking for a cost-effective and convenientlocation for headquarters or satellite offices," Ackerman says."We're actively seeing a significant increase in tenantinterest."

|

Besides MACTEC, the complex's other current tenants includeInfobase Publishing, which signed on just this past May, alongwith Consolidated Services Group, the law firm Flaster Greenberg,Hase/Schannen Research Associates and Headwaters Inc.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.