2016 Princeton Office Market Report
Mercer Oak Realty, Princeton Property Partners & Princeton Property Management are proud to present our 2016 Market Report (click to download). This year’s report highlights trends from 2015, what 2016 could hold, how New Jersey’s economy is doing at the moment and a look back on our 2015 predictions.
Hot topics include:
New Landlord in the Princeton Market
Small Business Owners in Philly Metro are Excited about 2016
Sixty-two percent of respondents to the Small Business Pulse Check conducted by TD Bank said they were “optimistic” or “excited” about 2016 and the overwhelming majority of the small business owners who responded indicated that they would close out 2015 strong, most of which expected to meet or exceed their annual revenue goals.
New Jersey Business reports on the findings of this survey, including local company’s thoughts on local taxes, legislation, hiring patterns, and a number of other small business factors. Read the full report here.
Scudder Falls Bridge Improvements to Begin
Preparation work has begun for the Scudder Falls Bridge construction project slated to begin in 2017. The bridge connects Bucks Co, PA & Mercer Co, NJ. A bottleneck during commute hours on I-95, the span (built in 1959) was recently deemed “functionally obsolete” and is long due for upgrades. Commuters and businesses in both Mercer County and Bucks County will benefit from the work done on the Scudder Falls. Read more about the project on nj.com.
Introducing: Princeton Property Management
Princeton Property Partners (PPP) is pleased to announce the recent addition of a senior manager and formation of Princeton Property Management (PPM), an affiliate company that primarily concentrates on project and construction management.
Eric McHugh, a 20 year property and construction management veteran, joins PPM as Vice President. Most recently Mr. McHugh managed a 1,000,000 sf office and flex portfolio, overseeing tenant and capital improvement projects, developing budgets and aiding in leasing transactions. He has worked with landlords and tenants of all sizes, from publicly traded REITs to family-owned investment groups. During his tenure, Mr. McHugh consistently delivered quality projects on time and within budgets while simultaneously managing large portfolios, tenant relations and a team of technicians, contractors and office administrators.
“We are very excited to add Eric to our team. As our project and construction management business has grown, we have searched for a senior level manager that we felt could not only manage the same high quality projects PPP strives to be a part of, but also grow the already expanding property and construction management business line and continue to raise the bar for our clients.” explains Hans vanTartwijk, a Partner at PPP.
Princeton Property Partners will continue to work on investment and development projects in the Princeton region as Princeton Property Management focuses on construction and property management assignments.