Boston Properties Pays $16M for Princeton Office

Boston Properties paid $15.8 million for 103 Carnegie Center Drive in Princeton, NJ.

“This sale generated a substantial amount of bidding, which is a testament to the prestige of the Princeton office market,” said Andrew Merin, for Cushman & Wakefield Metropolitan Area Capital Markets Group, which orchestrated the sale for seller Mack Cali.

The three-story office building includes 96,000 net rentable square feet at Carnegie Center, a 560-acre, master-planned corporate setting.

“With 83% of the building leased to 31 tenants, 103 Carnegie Center Drive provides opportunity for small companies to lease space and gain access to the large corporations that dominate the Princeton market,” Merin added.

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