101 Morgan Lane
Plainsboro, NJ

BEFORE

This 66,000 square foot office building — acquired as an REO from a special servicer — was in such a state of disrepair that occupancy hovered at a bleak 52%.

Nonetheless, its coveted Princeton market location offered strong secondary market appeal. As well, careful due diligence uncovered an additional 8% of rentable square footage — a significant upside.

All common areas underwent sleek modern upgrades, including a full lobby renovation. Striking Herculite glass doors and partition walls were installed in every bathroom throughout the building.

All building systems were revamped or replaced — all-new mechanicals, HVAC systems, VAV boxes & controls, access system, and fire alarm & safety systems. New lighting ensured energy efficiency and cost savings throughout the property.

Finally, an automated cloud-based maintenance and notification system was implemented, empowering tenants and improving tenant satisfaction and retention rates.

Since reaching stabilization, the building has become one of the most sought-after addresses in the Plainsboro/Princeton office submarket. Occupancy has remained at or close to 100%.