Amwell Commons' 'executive suites' drawing interest

Real Estate Weekly, May 7, 2003

The innovative "Executive Suites" office component at Amwell Commons is drawing substantial interest from a wide variety of tenants.

Several significant leases have already been signed at the single-story, 7,500-SF building since its official opening earlier this year, according to Larken Associates of Hillsborough, developer of at the five-building professional and medical complex on Amwell Road in the Somerset County town of Hillsborough.

Included among new Executive Suites users are Speer Fiber Optics, a prominent central New Jersey fiber optics firm, which, leased four suites; and Nutritious Living LLC, a private dietician specializing in the treatment of eating disorders.

Executive Suites is an imaginative "shared-space" office concept for small business operators. The building features twenty-five separate offices offering from 100 to 300 SF of space.

"Amwell commons is perfect for both the needs of my company and my clients," says Hem Ngyen-Le, owner of Nutritious Living, LLC. "Our-clients appreciate the ample parking at the facility, as well as a central location in close proximity to Princeton, New Brunswick and Route 287. Other advantages are the wealth of restaurants and shopping venues close by."

Bgyen-Le also offers high praise for the design of the Executive Suites Building.

"I particularly appreciate the outside suites which created a very neighborly feel and the shared common areas which provide access to several amenities commonly found only at large corporate offices," she indicates.

Speer Fiberoptics was attracted to Executive Suites primarily for its versatile lease structures.

"Executive Suites was ideal for Speer Fiberoptics because the lease terms were flexible and fit our business needs," explains, Frank Speer, president of the firm which bears his name.

"We were able to sign a short-term lease with an eventual month-to-month agreement -- exactly what we were looking for."

Tenants at Executive Suites enjoy perimeter offices with windows, state-of-the-art telephone systems and intercoms, keyless entry systems, access to copy and work stations, multiple conference rooms, kitchen facilities and high-end vending systems. There will also be access to cable and broad band high speed Internet access, including DSL service.

"Small business owners no longer have to undergo years of growth to achieve a corporate environment," notes Victor Kelly, a vice-president of Raider Realty, exclusive broker for Larken Associates.

"All shared space will be furnished with the latest in office furniture and some suites will have private entrances and exits. What's more, small business owners will be able to sign short term leases -- even month to month -- to give them maximum flexibility and limited liability."

Ideal tenants for the executive suite building include minimal space users, remote corporate locations and special project users, Kelly indicates.

While Amwell Commons is the first of Larken's new campus-style business and professional complexes to use the Executive Suites concept, the developer is also offering shared-space offices at its Princess Road Office Park and Branchburg Commons.

In addition to the Executive Suites, two other buildings at Amwell Commons have also begun leasing. A total of 13,100 SF of space is currently available in the two buildings. The final two buildings of the 42,000-SF campus style complex, adjacent to the Nelson's Corner Shopping Center, are scheduled for completion this summer.

The one-story brick buildings, which range from 7,000 to 9,500 SF, feature arched covered walkways, easily accessible from a parking lot that will accommodate 255 cars.

Amwell Commons tenants also enjoy on-site, climate-controlled storage space, enabling them to store their records and other items outside their valuable office area, but within a controlled

"They and others are very impressed with Amwell Commons' exceptional location just north of Princeton and south of the Somerville circle -- convenient to a half dozen highways, including Routes 206, 287,1, 22, and 78," notes Robert Marek, another Raider vice-president.

"In addition, a new traffic light has been installed to control ingress and egress onto Amwell Road and there is an access easement from the complex to the Nelson's Corner Shopping Center, with its shopping, restaurants and banking.

For more information about Amwell Commons and other Larken professional and commercial buildings, call Robert Marek or Victor Kelly at (908) 874-8686.