Birch Group, Lionstone Acquire Central New Jersey Office Complex for $70M

HOPEWELL, N.J. — A partnership between two regional investment firms, The Birch Group and Lionstone Capital, has acquired a three-building office complex in the Central New Jersey community of Hopewell for $70 million. Princeton Place at Hopewell spans 307,510 square feet and was 96 percent leased at the time of sale to tenants such as Merrill Lynch, Horizon Blue Cross Blue Shield and Janssen R&D. Amenities include multiple cafeterias, a fitness center, indoor basketball court, conference center and a central plaza with water features and outdoor dining space. Cushman & Wakefield represented the undisclosed seller in the transaction.