For owners of office buildings, constructing “spec suites” as ready-to-occupy office spaces can be a no-fail way to attract tenants — if these spaces are designed well. Read full article here.
Large buildings may soon get report cards for energy efficiency
Just like restaurants post letter grades in their windows, large buildings may soon have to broadcast their energy efficiency ratings. Read full report here.
Growing tech firms now drive high-end office market from Seattle and SF to Manhattan
When F5 Networks signed a lease last spring for 28 floors in the Mark, a new 48-floor office and hotel edifice in downtown Seattle, the deal capped a hunt for new headquarters that in 2019 will provide the company with room to grow and its employees with nearby transit, restaurants and other amenities. Read the full report here.
Three Keys to a Successful Property Budget Review
A budget is your vision of an asset and a forecast of potential earnings. While creating a portfolio or property budget, our deniable need to put everything under the microscope to review and analyze blurs the view. Read the full report here.
How to Prepare Your Multifamily Property for Winter
4 Commercial Property Management Trends You Need to Know
As a property manager, it’s wise to regularly evaluate market trends so you and other stakeholders can make the right decisions for your business moving forward. Read the full report here.
Welcome to the Gig Economy
If you haven’t heard of it, you will. Gig workers are playing a growing role in how corporate space users are redefining their staffing. Read the full report here.
5 Areas to Focus on for Better Workplace Productivity
A new study shows just how impactful a poorly planned workplace is on employees, which can negatively impact performance. Read full report here.
New BOMA Standard: What Size Is Your Office Building Really?
Why Retail Landlords Are Turning to Apartments to Shore Up Their Properties
Construction has started on a 23-story upscale apartment tower at Westfield UTC, a one-million-sq.-ft. outdoor center in San Diego, but the project is much more than the redevelopment of an upscale retail center owned by the Sydney, Australia-based Westfield. Read the full report here.
Save Big with Three Tips for More Efficient Vendor Management
Managing vendors and processing payables are significant cost drivers for real estate companies. Read the full article on irem.org
Are Low Interest Rates Always Good for the Real Estate Market?
Company gets $12M in tax credits to move 5 miles away
Making NJ More Attractive to Millennial Workers
Princeton Pike Corporate Center Sells
Mercer Oak Realty was recently involved as the seller’s representatives during the sale of Princeton Pike Corporate Center.
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
If you enjoy the content in our Market Report and/or have an interest in the Central New Jersey Real Estate Market- please join us this coming Thursday morning for the Central Jersey Real Estate forecast, held at the Hyatt Regency in Princeton.
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.
New to Market: +/-6,798 SF Class A+ Office Space
Suite 250 at 100 PrincetonSouth Corporate Center is now available for lease.
The +/-6,798 SF office space boasts high end finishes: rich wood mixed with modern glass fronts on the offices makes the most of an expansive window line and allows natural light to filter throughout the space.
This suite is a unique opportunity in the 100 Building- taking up an entire end of the building, the footprint produces a layout with an above average number of corner offices for a space of it’s size.
Suite 250 is able to be subdivided- down to 2,000 SF.
If you have any additional questions, please reach out to Aubrey Haines below, by email directly (email@example.com) or by phone (609.452.0200).
We look forward to seeing you at PrincetonSouth for a tour!
2016 Central Jersey Real Estate Forecast
The 3rd annual Central Jersey Real Estate Forecast breakfast will be taking place on Thursday, January 28th.
This year promises to be a thoughtful and interesting event and will feature keynote speaker Michele Brown, President & CEO of Choose New Jersey. Mercer Oak Realty’s CEO Aubrey Haines will join the panel, along with Jud Henderson of Sotheby’s, Sharbell’s Tom Troy and Tom Gates from Mortgage Master.
In addition to the panel’s economic and real estate predictions for the New Year, Ms. Brown will be giving an update on the incentives currently available to attract and retain businesses in New Jersey.
We hope to see you there!
Details: 2016 Central Jersey Real Estate Forecast Breakfast
When: Thursday, January 28th 2016
Where: Hyatt Regency Princeton
How many office buildings come with high end Italian food?
Recently, Susan Sprague Yeske visited Settimo Cielo, an Italian restaurant located in a corporate building that Mercer Oak Realty represents: 2445 Kuser Road and documented her experience in the Times of Trenton. Settimo Cielo began as a Trenton location, and to meet the requests of customers who wanted another option for dinner and weekend dining opened up the second location in Hamilton.
Along with a responsive and engaged landlord, Class A finishes and convenient location, Settimo Cielo helps to provide a strong amenity package at 2445 Kuser Road. Learn more about Susan’s experience and what Settimo Cielo has to offer in the article on nj.com, found here.
County Clerk Lines Up Deal for Temporary Space
Financial Website Ranks Princeton Best Small City in America
Princeton recently received more national recognition: the “Overall Best” spot in a ranking of small cities in the US. In October, Princeton was also named the “Best College Town to Live in”. Both of these distinctions were presented by financial websites, wallethub.com and smartasset.com, respectively.
To learn more about the categories included in the decision and details on how Princeton ranked, please read the nj.com article here.
Have you met our affiliate, 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.
Congratulations to JZA+D’s Partners!
The Partners of Princeton based integrated design firm Joshua Zinder Architecture + Design, Joshua Zinder & Marlyn Zucosky, have been selected the Entrepreneurs of the Year by the Princeton Regional Chamber of Commerce.
New to Market: 10,000 sf Office
Mercer Oak Realty is proud to list +/10,000 sf of office space at Princeton Crossroads Corporate Center!
Princeton Crossroads Corporate Center is located at 275 Phillips Boulevard in Ewing, NJ. The building has easy access to/from 95- right at Exit 4 for Route 31 & boasts recently renovated common areas.
The location is great for a commute from the NJ or PA side of the river. Not only are local amenities abundant in Pennington, Lawrenceville, Hopewell and Ewing- but the building is also quite close (10 minutes) to Route 1 amenities (without dealing with the traffic during peak drive-time). The SpringHill Suites Marriot is within walking distance and the Trenton-Mercer Airport (Frontier Airlines) is a 5 minute drive, making business travel a breeze. If getting to Philadelphia is a concern, jump on 95 right next to the building for a straight shot into the city in 45 minutes.
Exterior offices, interior offices, open bullpen space and a kitchenette make up the approximately 10,000 sf space. Oversized windows and an 11 foot ceiling add a bright quality office.
Please see our property listing on the Properties page for more information, photos and a flyer.
The Sustainable Office: A peek into the modern changing office
The panel discussion, along with breakfast & networking, was held at the Springdale Golf Club in downtown Princeton.
Featured speakers included Brian Marrs (Manager, Policy & Strategic Sustainability) & Bill Walsh (Director of Corporate Facilities) at NRG Energy and our friend Marlyn Zucosky (Partner & Director of Interior Design) at Joshua Zinder Architecture + Design.
Mr. Marrs & Mr. Walsh excitedly shared a sneak peak of what NRG’s new Princeton building, located on Route 1 in Carnegie Center, will include. The 130,000 sf building will serve as NRG’s new headquarters and is a mix of sustainable design elements for the sake of the environment and also experiments of NRG initiatives. Learn more about all of the features of the project on NRG’s website, here.
Ms. Zucosky discussed trends they are currently seeing in office space design: layouts that allow for more natural light into the center of the floor plan, open work spaces, huddle areas, game room and other elements to attract Millennials to companies. Mr. Walsh commented that many of the trends JZA+D has been noticing are in fact being employed within the new NRG building. Check out some of JZA+D’s projects here.
Meeting new Industrial demands: Renovations & Market Shifts
New Jersey’s industrial market has been going through some changes recently. What are they and how did they come about?
This NJBiz article highlights some of the issues with the state’s current warehouse stock and what is being done to change that.
$120M public-private development partnership nears completion
The College of New Jersey and PRC Group took on the challenge of creating Campus Town, a $120 million mixed use development project, in Ewing, NJ.
Campus town will include 612 upscale apartments for students and also a 11,400 sf fitness center, restaurants (such as Panera Bread, Mexican Mariachi Grill and more) and retailers (Barnes & Noble/Starbucks and more) open to both the students and the public. It will also be an attractive amenity package for workers who spend their days in the 1 million square feet of office space less than a mile away on the I-95 Corridor.
The project will create a richer environment for the students, but will also be a boon to the community as well, creating what Curt Heuring, VP for Administration of TCNJ, calls the “perfect interaction space” for both groups.
For more details please read the full story here.
What Ewing Business is Getting a $2.125M Boost?
The Trenton-Mercer Airport, located in Ewing, NJ, will be receiving $2.125 million as part of a state grant program specifically created to add value to New Jersey’s airports through improvement projects. County Executive Brian Hughes says “I think this recognizes that the Trenton-Mercer Airport is of regional importance.”
The Trenton-Mercer Airport is home to Frontier Airlines, who has flown out of Ewing since 2012.
Companies Want Quality
The Princeton market is seeing a trend- companies moving to new space not because they need to expand, or shrink- but because they want an upgrade. Current building stock, an uptick in the economy in general and the need to create a work environment that will attract quality talent are all helping to herd companies toward higher quality buildings. Landlords with lower rental rates are helping, too.
Glut, defunct & stranded: What do these words describe?
NJBiz uses these words (in the article linked below) to describe suburban corporate campuses in New Jersey- with enough combined square footage to fill five Empire State Buildings.
PlanSmart NJ has taken on the task of developing a “toolkit” of sorts for municipalities to begin to deal with the 14.5 million square feet of vacant, obsolete office and/or lab space in 94 of the state’s largest (over 200K sf) buildings. These campuses that dot New Jersey’s suburban landscape are often referred to as “stranded assets” and will need some creative thinking to reposition them.
“We’re looking at it holistically — that this is an economic development project, it’s an environmental protection project, it’s a resource efficiency project,” said Ann Brady, PlanSmart NJ’s executive director. “We think there’s a lot of opportunity with these sites, to better connect them to the greater community, to use the infrastructure that’s already there, so we’re directing growth to areas where there’s already existing infrastructure.”
Oftentimes municipalities fear redevelopment, rezoning and mixed-use projects. PlanSmart NJ “hopes to frame the issue by quantifying the problem” with “a major two-year research project that will compile data on vacancy, demographics, property tax appeals and other metrics related to the sites, with the aim of creating a guidebook for local officials and sparking a policy change that could help them find new life as mixed-use assets”.
How are NJ’s incentives doing?
We’ve posted a lot about New Jersey’s current incentive packages aimed at both retaining current jobs and businesses within the state’s borders and also attempting to attract new businesses and jobs.
There are both fans and critics of these programs, as with most things. In an attempt to get an unbiased answer on whether or not these incentive packages are doing their job- Rutgers University has been given the task of figuring just that out and will start researching and releasing reports in the next 3 years.
Two new incentives deals for Mercer County
Who: TRAC Intermodal
Currently located at: 211 College Road East, Plainsboro & 2 Independence Way, South Brunswick
Will consolidate to: 750 College Road East, Plainsboro
Size: 82,000 sf
Lease term: 10 years, 9 months
Incentive amount: $9.8 million
Who: LMT Mercer Group
Currently located at: 690 Puritan Ave, Lawrence
Will build at new location at: New York Ave & Strawberry St, Trenton
Size: 90,000 sf
Incentive amount: $1.55 million
Mercer County Leaders Meet for Roundtable Discussion
Leaders from 6 Mercer County towns came together to discuss their individual priorities and the future success of New Jersey as a whole.
Popular topics of conversation included the NJ Transportation Trust Fund, walkable communities and NRG Energy’s new building in the breakfast hosted last week by the Princeton Regional Chamber of Commerce.
West Windsor Mayor Shing-Fu Hsueh, Princeton Mayer Liz Lempert, Pennington borough administrator Eileen Heinzel, Hopewell Township Mayor Harvey Lester, Hopewell Borough Mayor Paul Anzano and East Windsor Mayor Janice Mironov were in attendance for the roundtable talk.
YMCA of Trenton’s 10th Annual Golf Outing Attracts Over 70 Golfers
Monday, May 4th the YMCA of Trenton hosted their 10th Annual Golf Outing. Mercer Oak Realty’s President Sab Russo was in attendance and played in a foursome with Tim Aker, (Treasurer, Hopewell Valley Baseball & Softball Association), Randi Koss (Account Executive, Innovative Commercial Interiors) and Paul March (Managing Director, Newmark Grubb Knight Frank).
72 golfers participated in the event at Greenacres Country Club- all for a good cause. Proceeds help raise funds to send kids to summer camp who may not otherwise have the opportunity through the Summer Camp Scholarship Fund for Trenton Youth. This year’s event was the best golf outing to date for the YMCA of Trenton.
To learn more about what the YMCA of Trenton (serving Trenton, Lawrence and Ewing) is doing in the community, please visit their website: http://trentonymca.org/.
Will more mixed-use projects find homes in central New Jersey?
The phrase “mixed-use” has been around for a long time, but seems to be growing more prominent in conversations, news articles and online discussions each day. We’ve mentioned a few mixed-use projects in this news section in the past and have had many conversations in the office voicing different viewpoints and imagining possibilities for here in Mercer County.
We can point to a few examples of existing mixed-use environments in our backyard: downtown Princeton (Mercer Co, NJ) and Lambertville and New Hope (Hunterdon Co, NJ and Bucks Co, PA, respectively) that have been around for a long time and are very successful at being what mixed-use plans hope to be: any urban, suburban or village development (even a single building) that blends a combination of residential, commercial, cultural, institutional, or industrial uses where those functions are physically and functionally integrated, and that provides pedestrian connections. Mixed-use has had a variety of exact definitions over the years and still gets used in different ways from time to time- if you are interested in digging a little deeper, this article provided by Placemakers is a good place to start to understand the nuances.
We recently attended the Princeton Chamber of Commerce’s REBA (Real Estate Business Alliance) breakfast event (Bringing Positive Change to the Princeton Region) that was centered around planning concepts that would attract millennials and empty nesters to the Princeton/Mercer region- in particular Trenton. The mixed-use concept was spoke about at length- looking at demographics and trends around the country for the targeted age groups and considering how to apply them to our backyard.
Here is an article about the sale of a long vacant building in Hightstown that hints that a mixed-use redevelopment may be in the cards. An article from earlier in the month follows the possible redevelopment of the Ocean Spray site in Bordentown into a possible “gateway into town” mixing loft style office space and possibly a brewery, yoga studio, etc.
What does this mean for the real estate landscape in Mercer County (commercial, residential, retail, industrial)? Do you see this type of project taking hold and changing our area? Or is this another fad that will pass?
An Interview with NAIOP’s New President
Clark Machemer, the Rockefeller Group’s senior vice president and regional development officer, was recently announced as NAIOP New Jersey’s new President. He is a 15 year member and previously served as the chapter’s vice president for public affairs.
Choose New Jersey & the EDA Welcome CEOs
Both Choose New Jersey & the Economic Development Authority recently brought on new CEOs: Michele Brown and Melissa Orsen, respectively. Both groups work towards improving the business and economic climate in the state.
Learn more about Choose New Jersey and Michele Brown’s plan for helping the Garden State attract & retain business.
Check out the Economic Development Authority’s role and why Melissa Orsen was the best choice for the position.
30K SF Lease Signed at PSCC: Mercer Oak in the News
This lease brings 100 & 200 PrincetonSouth to 85% occupancy.
For information on remaining space at PrincetonSouth, please see our properties page.
MOR Braves the Cold for a Good Cause: Cupid’s Chase
This past Saturday, Dawn Stillwell and Jacquie Palma of Mercer Oak Realty braved the cold and ran in the Cupid’s Chase 5K in Princeton. The race is held by the national non-profit Community Options, Inc. and raises money to benefit people with disabilities by providing them with housing and employment support.
Dawn and Jacquie were joined by Angelique Flynn of SERVPRO of Bordentown. The ladies showed their support for the cause by donning red and white shirts and running in last weekend’s frigid temperatures.
This is the seventh year for Cupid’s Chase. The race was held in over 30 cities around the country and raised in excess of $200,000 to support people with disabilities. The Princeton race raised nearly $8,000, exceeding their goal of $7,000.
If you would like to join the Mercer Oak team in future 5Ks or know of a good cause to run for please contact Dawn Stillwell.
To learn more about Community Options please visit their website.
Congratulations, Hill Wallack!
Hill Wallack, one of the largest and fastest growing law firms in the Princeton area, announced today that they have officially moved into their new headquarters at 21 Roszel Road in West Windsor. The firm now occupies 48,000 sf, the top 2 floors of the recently constructed 62,500 sf building.
Mercer Oak Realty’s Sab Russo represented Hill Wallack on the transaction.
2015 Market Report & Real Estate Forecast
At 7:30 am on Thursday January 29th over 230 Princeton area professionals gathered in the Hyatt Regency Princeton to hear a panel of three local experts present their outlooks for Princeton’s 2015 real estate market. The 2nd annual Real Estate Forecast saw a 50% increase in attendance from last year.
Mercer Oak Realty’s Aubrey Haines presented the company’s Princeton Office Market Report, recounting that 2014 had been a year of significant activity and continued growth for the area.
Haines also spoke at length about the supply constraint that will be seen in the market as absorption rates have been steady and there has been little to no speculative construction of new office buildings. He highlighted larger deals that had been done in the market and also touched on evolving company culture and employee’s expectations of their work and living environments. “These changes will play a significant role in the type of space companies choose to reside in in the coming years. The Princeton market’s shortage of large available spaces and the updated work place demands make build-to-suit options very attractive.” Haines commented.
The event was hosted by the Princeton Regional Chamber of Commerce’s REBA (Real Estate Business Alliance) and in addition to Aubrey Haines, the panel included Judson Henderson of Callaway Henderson Sotheby’s International Realty, Francis Keene from PNC Wealth Management and was moderated by Tom Gates of Mortgage Master.
Henderson covered Princeton’s residential real estate market and Keene spoke on the current economy. Attendees had a chance to ask the panel questions and a lively discussion ensued ranging from qualities of the Princeton market that makes it so attractive to office tenants to residential buying trends in specific Mercer County submarkets.
You can download the 2015 Princeton Office Market Report here. If you’d like to receive a hard copy, please call (609.452.0200) or email (firstname.lastname@example.org) us.
The experiment that is Bell Works
Last Tuesday we had the opportunity to get to know one of the biggest commercial real estate projects going on in New Jersey.
CREWNJ hosted an event located at, and all about, the Bell Works building- a 2 million sf structure in Holmdel that was formerly called Bell Labs. Sitting on 472 acres, the massive campus was home to over 6,000 engineers and is considered the birthplace of a rather impressive list of inventions including: the development of the first cellular wireless voice transmission technology, the laser, technologies which help make the internet possible, the transistor, and many, many more.
Eero Saarinen, an extremely well known Finnish architect, designed the building (dubbed “The Biggest Mirror Ever” due to the reflective quality of its exterior) and by 1962 scientists were busy creating the future within its walls. Expansions occurred in 1966 and 1982.
The former Bell Labs building is a large rectangle consisting of four rectangular sections at each corner (6 floors high) connected by massive, glass filled atriums. There are corridors located on each of the 6 floors that open up to the atriums on the interior of the building. On the exterior of the building the corridors create bright, glass lined hallways. The corridors (or sky-bridges) and atriums help to connect the space and originally served as a place for scientists to walk around, smoke and chat to help break up the hours spent behind laboratory doors. Unfortunately, by the mid 2000’s the halls began to empty.
This is where the new name, Bell Works, comes in. In September 2013 it was announced that Somerset Development Corporation purchased the property for $27 million. Somerset has envisioned a redevelopment of the property- creating a Town Center for Holmdel within the massive building, eventually including some housing and outdoor recreation spaces in future phases.
Last Tuesday’s CREWNJ event presented a panel of professionals who have been working on the project: Tom Michnewicz, CEO of Somerset Development, Michael Bruno Esq. Giordano, Helleran & Ciesla, P.C. – Land Use and Redevelopment Counsel, Duane Davison, Esq. Township of Holmdel Counsel and Alexander Gorlin, Alexander Gorlin Architect, LLC.
The conversation detailed how they hope to give life back to the building while still preserving its historic importance. The mixed use environment is to include first floor retail, restaurants & bars, a hotel, fitness centers, spa, green space, and office- all centered around a pedestrian friendly “street” located in the largest central atrium space. In essence, the building will become its own mini-city. Inspiration has been taken from the classic, clean modernist design and will be meticulously applied to project moving forward.
Will this redevelopment be the grandest experiment to take place at this historic site to date?
And will it set a new example for the repurposing of outdated office space in the Garden State?
We’re looking forward to seeing how it turns out.
Learn more about the Bell Works project at their website: bell.works.
State of Mercer County
County Executive Brian Hughes delivered the State of Mercer County address to 500 local officials & business leaders yesterday at the Hyatt Regency Princeton. What did he have to say about our county? Nj.com covered his speech here.
Join us: 2015 Real Estate Forecast
We are looking forward to the 2nd annual Princeton Real Estate Forecast coming up at the end of this month. On January 29th, our CEO, Aubrey Haines, and a panel of other Princeton area real estate professionals will be discussing their economic predictions for 2015. There was a great turn out for the 2014 Real Estate Forecast and a lot of thoughtful discussion. We look forward to an even better event this year.
If you’re free on the 29th, please join us at the Hyatt Regency Princeton for breakfast and thought provoking conversation. We hope to see you there!
Details at a glance: 2015 Real Estate Forecast
Brought to you by: Princeton Chamber of Commerce’s Real Estate Business Alliance
Panel featuring: Judson Henderson (Callaway Henderson Sotheby’s International Realty), Aubrey Haines (Mercer Oak Realty), Paul Anastos (Mortgage Master) and Tom Gates (Mortgage Master) as Moderator
When: Thursday, January 29th – 7:45 am until 10:00 am (Breakfast included)
Where: Hyatt Regency Princeton
2014 Commercial Real Estate Recap
2014 is drawing to a close. The coming of the New Year is, naturally, a time of reflection. What did your 2014 hold? We hope a lot of success and fond memories.
What about in our commercial real estate world? NJBiz took some time to recap their biggest real estate stories of 2014. What made their list? Do you have any additions?
We here at Mercer Oak Realty wish you and yours a very enjoyable New Years celebration and a healthy and prosperous 2015!
Thank you for your donations!
We would like to take a moment to thank everyone for participating in our TASK Donation drive at PrincetonSouth this past month- it was a great success! Bags and bags of holiday gifts and non perishable food items were delivered to the Trenton Area Soup Kitchen last week. It could not have happened without everyone’s help. Thank you again!
We hope you are all enjoying your holidays and look forward to a bright 2015.
We are hiring!
We are looking to add a Broker/Salesperson to the current Mercer Oak team- does the below job description sound like you or someone you know? If so, email a cover letter & resume to email@example.com. (PDF version available here: MOR Sales Person Job Description)
Sales Person Job Description
Mercer Oak Realty is seeking a driven, aggressive individual who is looking to work as a Broker/Salesperson in a fast-paced commercial real estate office in the Princeton, NJ area.
Job responsibilities include working with a team of professionals to learn the business but also requires the successful applicant be able to be a self-starter who is a people-person and someone who is looking for unlimited compensation and know that for every 100 prospective sales targets only a very few (maybe one) will turn into a closed deal.
You will need to:
Work to develop potential leads in the marketplace by soliciting business from hundreds of prospective clients. This will include phone cold-calling and canvassing buildings and require that you are quick on your feet and good at getting others to talk in potentially challenging circumstances.
Cooperate with Senior Brokers in our office to turn potential leads into closed sales. As a Junior Broker, you would uncover opportunities for tenants and buyers to acquire office space, you would introduce Senior Brokers to the prospective clients and learn the process of negotiating and closing lease deals and sales. Over time, you would become increasingly independent and able to run deals on your own and garner a larger share of the commissions.
Learn the process of transacting in commercial real estate. We would pay for you to get your real estate license and provide you with a fully-loaded database of potential clients, teach you how to solicit business, help you to create and present financial analysis, negotiate leases and discern the difference between prospective clients who are wasting your time from clients who can make you money.
Attend industry events, Chamber of Commerce Meetings, join Clubs, be a part of the fabric of the community to build relationships and become known. Mercer Oak encourages all employees to give back to the community.
We are looking for someone with:
• Sales experience, although this is not required.
• Have strong interpersonal skills.
• Proficient in the MS Office Package (Word, Excel, Power Point, Outlook, etc)
• Must be driven, self-start, ambitious, and seeking long term career with advancement and unlimited earning potential.
• Be capable of maintaining a high energy level and have the ability to work independently, as well as a team player.
• Must be an honest person with good judgment in all business matters.
• Real estate license is required for this position, but not required to apply.
We need candidates with an outstanding entrepreneurial work ethic with great time management skills. If you have a strong interest in sales, marketing, interpersonal skills and communication skills, and have proficient computer skills, please submit your resume.
Archer & Greiner wins award, Ewing’s airport shows its strength & how the town of Princeton extends beyond its borders
Congratulations to our friends at Archer & Greiner!
NJBiz announced their Business of the Year Awards winners last week at their annual event. We are very proud to congratulate our client, Archer & Greiner on being named the Corporate Citizen of the Year for 2014. For a full list of winners, please visit the NJBiz website.
As other regional airports struggle, Ewing’s Trenton-Mercer Airport continues to grow
Last year multiple regional airports made moves- Atlantic City International Airport added more United Airlines flights, Frontier Airlines added a stop in Wilmington, DE and People Express began service out of Newark Liberty International Airport. At the same time, Trenton-Mercer Airport spent $20 million in renovations and reopened to the public with Frontier Airlines. As of now, the Trenton-Mercer addition is the only one left standing- and its not just barely making it, its growing. NJBiz provides more details here.
Princeton is everywhere
If you’re familiar with the area you understand that just because a business, store, or corporate park has “Princeton” in the name does not mean it is actually located in the town of Princeton. Mayors from neighboring towns (whose names often get replaced by “Princeton”) weigh in and add their comments in this nj.com article. Previously this year, the cache attached to the Princeton name and how it effected corporate tenant’s location decisions was discussed also.
If you enjoy our news updates- please consider following us @MercerOakRealty on twitter for more Princeton area & commercial real estate news. Mercer Oak Realty can also be found on Facebook & LinkedIn.