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PRINCETON, NJ-The Patrinely Group and USAA Real Estate have broken ground for 1100 Campus Rd., a 167,000-sf class A office building. The start of work on the asset marks the first new speculative office building in this market in at least five years.

1100 Campus Rd. is also the initial phase of Princeton Corporate Campus within Princeton Forrestal Center, a master-planned business park. At build-out, the 75-acre Princeton Corporate Center will encompass five, five-story buildings totaling upwards of 800,000 sf.

The Houston-based Patrinely and USAA Real Estate, a subsidiary of USAA Insurance, have given the marketing assignment for the project to CB Richard Ellis. Heading the assignment are Bradford Fenlon, first vice president of CBRE in New Jersey, and Stephen B. Siegel, chairman of global brokerage of CBRE in New York.

“We are excited that Patrinely has moved forward with this signature office development,” Siegel says. “Its prime location in the Princeton marketplace and its amenities are appealing, and as the only new spec office development in Princeton, we anticipate that demand will be very strong.”

The building is being marketed for either single or multi-tenant use, according to Siegel. Patrinely and USAA expect to have 1100 Campus Rd. ready for occupancy by late next year. Plans for the project were initially announced in late 2003.

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