Berwind Property Group purchased 330-350 Carter Road, an approximately 300,000-square-foot corporate campus in Princeton, N.J.
The value of the transaction was not disclosed.
The three-building campus is situated on approximately 190 acres and can accommodate an additional 500,000 square feet of development.
The existing buildings include a newly renovated, 76,000-square-foot research and lab facility leased to Lexicon Pharmaceuticals, an approximately 200,000-square-foot former office/research facility and a 25,000-square-foot office building.
At the time of sale, the 200,000-square-foot former research/lab facility was vacant. BPG has begun its renovation plans to enhance and improve the facility, including the installation of a new curtain wall system, as well as interior and HVAC upgrades. Construction is expected to begin this month.
Berwind Property Group Ltd. is a Philadelphia-based privately held real estate investment company.
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