March 04, 2008 - Gottesman Real Estate Partners Acquires 19 Roszel Road in Princeton, New Jersey
Gottesman Real Estate Partners has purchased the property at 19 Roszel Road in Princeton, N.J.; the site is approved for the development of 100,500 square feet of Class A office space in two buildings.

The location is at the epicenter of the Princeton Corridor, with easy access to Route 1 at Alexander Road and immediately adjacent to the prestigious Carnegie Center office park. The approved plans, which include a 62,500-square-foot building and a 38,000-square-foot building, offer a high degree of flexibility for tenants. The three-story structures offer full-floor opportunities as small as 13,000 square feet, yet floors can be further divided or combined to accommodate a wide range of tenant needs.

The buildings are designed by RMJM Hillier, one of New Jersey’s pre-eminent architectural firms. They were conceived to stand in contrast to the massive office buildings of Carnegie Center and the other nearby parks, in which smaller tenants get lost on enormous floorplates.

“This is a AAA location in one of the state’s most dynamic markets, which serves northern, central and southern New Jersey, as well as Philadelphia and Bucks County, Pennsylvania,” said Joel Brudner, executive vice president of Gottesman Real Estate. “Additionally, the buildings we intend to develop provide the opportunity for small and mid-size tenants to be treated like big fish in a little pond.”

The property will be marketed by Milt Charbonneau, Vice President, and Douglas Twyman, Senior Vice President, of Colliers Houston & Co. The Colliers team will bring to bear its knowledge of the local market as well as its national reach to secure deals.

Gottesman Real Estate purchased the property from Core Laboratories, LP, which will continue to occupy a 10,000-square-foot industrial building on the site until development begins. The seller was represented by Bob Sobol of R.P. Sobol & Co., LLC and Mike Townsend of Moody Rambin.

Gottesman Real Estate Partners, the newest endeavor for one of New Jersey’s well-known real estate families, was launched in 2007 to acquire high-quality commercial assets that can benefit from the type of hands-on management and long-term perspective that has been family’s hallmark since 1956.