JLL completes 118,000 SF lease at 9 Roszel Road in Princeton, New Jersey
Bristol Myers Squibb to occupy full building in Class-A office park
Parsippany, N.J., December XX, 2020 — JLL has completed a 118,110-square-foot lease at 9 Roszel Road in Princeton, New Jersey. Bristol Myers Squibb signed a full-building, long-term lease at the Class-A, three-story office building, managed by Manulife Investment Management.
The property was designed by Hillier Architects and originally developed by SJP properties as a headquarters-quality facility. It is currently the only property within the office park with available branding rights. 9 Roszel Road is directly adjacent to 7 Roszel Road, which features an 8,000-square-foot fitness center and a full-service cafeteria with outdoor seating. John Hancock Life Insurance Company has planned an extensive renovation of 9 Roszel Road prior to Bristol Myers Squibb’s ocupancy, including a lobby redesign and restroom renovations, in addition to a recently refreshed cafeteria, and a resurfaced parking lot with updated lighting.
Located within a 24-acre trophy office park, 9 Roszel Road also falls within walking distance of the Hyatt Regency Hotel located in Carnegie Center. 9 Roszel Road is positioned on the Route 1 corridor, offering convenient access to seven major shopping centers and malls and a variety of restaurants. The property is one mile from the NJ-Transit Princeton Junction Station and is 10 minutes from I-295.
The JLL team representing Manulife Investment Management included David Stifelman, managing director, and Jim Schroeder and Jason Benson, senior vice presidents. Robert Morford of Morford & Dodds Realty represented Bristol Myers Squibb.
“This is a unique opportunity for a company to establish a footprint in a desirable office destination in the Northeast and to partner with a well-established landlords in the commercial real estate business,” said Stifelman. “The property is centrally-located between New York City and Philadelphia in one of New Jersey’s most in-demand submarkets, offering highly convenient transit, access to an educated workforce and proximity to Princeton University.”
JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,260 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility management, and investment sales/capital markets debt and equity services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from five full-service offices in Parsippany, Iselin (Metropark), Princeton, Morristown and East Rutherford, also acts as a local service provider for JLL’s global and national corporate clients in need of real estate assistance in New Jersey. NJBiz ranked JLL’s New Jersey operations as the No. 1 commercial real estate brokerage in the Garden State in 2020.1
1 Published on 11/9/20 and ranked by: square footage sold/ leased in New Jersey.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Manulife Investment Management, Private Markets
Manulife Investment Management's comprehensive private markets capabilities include real estate, private equity and credit, infrastructure, timber and agriculture. Through its real estate group, Manulife Investment Management develops and manages commercial real estate for thousands of customers around the globe. As of September 30, 2020, the real estate portfolio totals over 63 million square feet of office, industrial, and retail space and over 6,000 multifamily units strategically located in markets across Canada, the U.S., and Asia. The group leverages its global platform and local expertise to provide market-leading solutions for its tenants and deliver results for its partners.
Additional information about our Real Estate group can be found at www.manulifeim.com/realestate.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 17 countries and territories. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We’re committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement.
As of September 30, 2020, Manulife Investment Management had CAD$923 billion (US$692 billion) in assets under management and administration. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.