BNY Mellon Relocating to Princeton Place in Hopewell

Princeton Place at Hopewell, NJ

HOPEWELL, NJ— Albridge Solutions, a technology-based wealth management affiliate of Pershing , part of BNY Mellon , will relocate its headquarters to 45,000 square feet at Princeton Place at Hopewell . Cushman & Wakefield arranged the lease for American Real Estate Partners. “We are extremely pleased to have entered into a long-term commitment with Albridge Solutions and are looking forward to their tenancy,” says Michael Gribbon , principal of American Real Estate Partners . “Completing this transaction formalizes the transformation of the asset to a multi-tenant project. The location continues to be a significant draw to the vast majority of tenants in the market who understand the unique nature and value of our Class A campus environment and amenities.” Cushman & Wakefield’s team of Paul Giannone , Todd Elfand and Kevin Carton represented the owner, and Jones Lang LaSalle represented the tenant. “We are seeing tremendous activity at this location from large and small organizations – it’s one of the nicest suburban collegiate office campuses in the state,” says Elfand , who notes that Princeton Place at Hopewell was constructed in 2001 and renovated by American Real Estate Partners in 2015. Princeton Place at Hopewell is a three-building, 341,000-square-foot office campus consisting of two office buildings and an amenity building featuring a café, fitness center, covered parking and shared conference facility. The Albridge signing comes at the 140,000-square-foot 1800 American Blvd. building. Features of the campus include 40,000-square-foot column-free floorplates with six-inch raised floors, a distinctive brick-clad, gable-roofed building design, and a location at a four-way interchange along I-95. “There is so much attraction to this particular campus for Fortune 500 companies because after they evaluate build-to-suit opportunities in the marketplace, they find that this pre-existing campus provides all of the amenities and state-of-the-art infrastructure at a lower cost point than building new,” says Carton . “This transaction marks a continued commitment and trend toward the I-95, I-295 corridor, with significant access to the talent pools in North and South Jersey and Bucks County, PA,” says Elfand . “The Princeton-area office market, with almost 17 million square feet of space and a vacancy rate in the mid-teens, continues to out-perform most markets in all of suburban New Jersey.”