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Herring Properties Receives 2012 Land Development & Planning Award for 23 Orchard Road, Skillman, NJ

01/18/2012

Herring Properties, a Princeton based real estate development company, today announced that 23 Orchard Road, a mixed-use development anchored by an existing 240,000-square-foot, premier office building in Skillman, N.J., has received the prestigious 2012 Land Development & Planning Award in the Mixed-Use category from the Somerset County Planning Board at the 29th annual awards presentation. The award is for a site which demonstrates excellent planning and development practices.

Originally a former headquarters of a downsized public company, Herring Properties subdivided the site into two parcels, one for the existing office building which they completely renovated and leased up to a fortune 100 company; the other parcel received approval to build a 160 unit townhouse community with a component of affordable housing.  Additionally, a solar array was built in the rear of the property to provide over 40 percent of the power to the office building through a renewable energy source.

Additionally, the transformation created over 40 acres of conservation area with walking trails and an additional two acres of tree plantings.

“This is a win for everyone involved in this project,” says Jamie Herring, owner of Herring Properties. “Our major tenant, Johnson and Johnson, has expanded their footprint in a renewable energy supplied office building. A market rate townhouse community is approved to offer ‘live work’ and minimal commute to work options, and affordable units will be constructed to supply a demand need in Montgomery.”  

The Cassidy Turley team consisting of Milton H. Charbonneau, SIOR, CCIM, Senior Vice President, Principal, Douglas R. Twyman, SIOR, Senior Vice President, Principal, and Charles P. Parmelli, SIOR, CCIM, Vice President, Principal, handles all leasing activityfor the office building, which is owned by a partnership of JER Partners and Herring Management. Johnson & Johnson is the anchor tenant, leasing approximately 70 percent of the building. Approximately 35,000 square feet is currently available for lease.

“This is a tremendous honor for 23 Orchard Road and we applaud the efforts of the ownership, who had the vision to see the potential of this property, in addition to the wherewithal to embark upon such a significant transformation,” said Charbonneau. “The asset is now a headquarters-quality, sustainable property that is a standard-bearer in the strategic Princeton market and in the state.”

Van Cleef Engineering Associates of Hillsborough, N.J. was the engineering firm on the project, which was designed by the architecture firms of Leslie Campbell & Associates of Princeton, N.J. for the office building and Barton Partners of Norristown, Pa.

About Herring Properties

Herring Properties, a Princeton based real estate development company headed by Princeton native Jamie Herring, is building a portfolio of quality commercial properties throughout the mid-Atlantic. Founded in the late 1990s, Herring Properties has quickly acquired a portfolio of 1,800,000 square feet of office, industrial and residential properties. The firm's niche is to acquire real estate from corporations who are disposing of non-core assets, for reasons such as consolidation, relocation or financial restructuring. Herring Properties specializes in repositioning and reconstructing the property as multi-tenanted facilities. Please visit www.herringproperties.com for information about Herring Properties.

About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.

01/19/2012 - 02:37

Source

DTZ

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