The consulting and engineering firm leased 9,000 square feet at105 College Rd. E., which will accommodate its staff of 35professionals. The long-term lease was brokered by Jones LangLaSalle, and will be under the management of National BusinessParks, Inc.

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The firm's new office is only five miles from the previous site,which was located at Boston Properties' 502 Carnegie Center.Strategic incentives for the move include the more cost effectivelease at College Park, its location fronting Route 1 and thegrowing high tech research and development community.

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John Bilotta, Syska Hennessy vice president and site leader,tells GlobeSt.com, "The new space and layout will also be moreconducive to our day-to-day business which our employees willappreciate and deserve."

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According to Vincent Marano, COO of National Business Parks,landlords are becoming competitive and extremely flexible in leasenegotiations and are offering generous concessions in the effort tokeep their building filled.

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"Rents in Princeton are now averaging in the mid-$20s, down fromthe upper-$20s less than 18 months ago," Marano says. And whilevacancy factors in Princeton are currently 16% to 17%, well belowthe statewide average, they still reflect a significant number oftenants lost.

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"National Business Parks has always done whatever it can do toretain its tenants, which has been our operating policy in goodtimes and poor," Marano adds. "We have continued to update ourbuildings with sophisticated HVAC systems, technological updatesand remodeling programs that involve such luxury installations asgranite flooring and specially designed lighting systems throughoutpublic spaces."

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The attention to detail is paying off, as the815,000-square-foot center is now 97% occupied, with firms optingto renew in what is clearly a tenants' market, notes Marano. "Inour business it's very straight forward--without jobs, there's noneed for real estate. So from our point of view new jobs are theimperative."

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Two fully approved additions are planned for College Park,including College Park 2, a five-building office/research centercontaining 345,000 square feet on a 31-acre site adjacent to theexisting College Park campus, and College Park 3, a four-buildingpremier corporate office center on a 47-acre site contiguous to theCollege Park campus. Both new complexes will be developed on abuild-to-suit basis.

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