Cushman & Wakefield Arranges 79,000-Square-Foot Office Lease Extension for SES Americom
Media Contact: Evelyn Weiss Francisco (201) 796-7788
PRINCETON, N.J., Jan. 24, 2013 – SES Americom, Inc., represented by commercial real estate services firm Cushman & Wakefield, Inc., has signed a 79,000-square-foot, long-term lease extension at 4 Research Way in Princeton. Based in Luxembourg, the world-leading owner and operator of a fleet of 52 geostationary communication satellites and a supporting network of teleports, utilizes the location as its U.S. headquarters.
The East Rutherford, N.J.-based Cushman & Wakefield team of Marc Trevisan and Robert Rudin represented SES Americom in the transaction. Landlord National Business Parks, Inc. was represented in-house by Vincent Marano and Tom Stange.
“The decision to extend at their existing headquarters location came after a comprehensive two-year search involving numerous locations, including both existing and build-to-suit opportunities, in New Jersey and Pennsylvania,” said Trevisan. “Vince and Tom were very professional—a pleasure to work with during this process—and ultimately it made operational and economic sense to remain in that location.”
Constructed in 1981, 4 Research Way totals 129,000 square feet on three floors. With the lease extension, SES Americom will consolidate its operations on the first and second floors, leaving the third floor available for lease. “We will be handling that assignment to lease the third floor,” said Trevisan.
The regional office market remains “soft,” according to Trevisan. “Many of the locations we investigated during our comprehensive search remain available. However, given 4 Research Way’s prime Princeton-area location, its quality and amenities, we anticipate a great deal of interest in this availability.”