Dr. Reddy’s takes 53,000 sq. ft. at Princeton-area office building, C&W says – Real Estate NJ

Princeton Point at 600 College Road East in Plainsboro — Courtesy: Cushman & Wakefield

By Joshua Burd

Dr. Reddy’s Laboratories has leased 53,000 square feet at a newly updated office complex outside Princeton, in one of two newly announced deals by Cushman & Wakefield.

In a news release, the brokerage team said it represented the landlord, Nuveen Real Estate, in the transaction at the two-building Princeton Point property at 600 College Road East in Plainsboro. The firm’s Kevin Carton and Todd Elfand completed the assignment, while Shawn Straka represented the tenant.

“Life science tenants remain committed to the greater Princeton market due to the excellent access to a highly educated workforce, proximity to New York City and Philadelphia and abundance of retail and dining options,” said Straka, who co-leads Cushman’s life science practice group in New Jersey.

Carton and Elfand also represented ownership at Princeton Point in a 63,000-square-foot renewal with State Street Bank. JLL represented the tenant.

“As evidenced by these transactions, tenants remain committed to high-quality real estate assets,” Elfand said. “With a stable balance sheet and smart investments in property renovations, Nuveen continues to create a rewarding work environment, making this Princeton property an ideal choice for top employers seeking a best-in-class workplace.”

In announcing the deal, C&W noted that Princeton Point sits within Princeton University’s 2,000-acre, master-planned business and research campus. The property has newly designed building entrances, an on-site café and restaurant, a conference center, a courtyard with outdoor private seating and on-site electric vehicle charging stations.

Tenants are just off Route 1 and minutes from downtown Princeton and the Princeton Junction train station. They also have direct access to the offerings at the mixed-use Princeton Forrestal Village.

“We are thrilled to welcome Dr. Reddy’s Laboratories and to retain our tenant, State Street Bank, at Princeton Point,” said Nelly Othman, senior associate of workplace, retail and mixed-use at Nuveen Real Estate. “With full amenities and quick access to downtown and numerous transportation hubs, Nuveen meticulously renovated this building to be the complete package.”