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Trouble Comes to New Jersey Office Parks, New York Building Hurt by Falling Occupancy, Office Loan Volume Extends Slide

A Weekly Look at the Commercial Mortgage-Backed Securities Business

The property at 993 Lenox Drive in Lawrence Township, New Jersey, is one of eight that make up Princeton Pike Corporate Center. (CoStar)
The property at 993 Lenox Drive in Lawrence Township, New Jersey, is one of eight that make up Princeton Pike Corporate Center. (CoStar)

Trouble Comes to New Jersey Office Parks: A $129 million loan on the Princeton Pike Corporate Center, an eight-office building complex in Lawrenceville, New Jersey, has moved into special servicing, CoStar commercial mortgage-backed securities data shows. The loan was transferred due to imminent default, according to the special servicer, C-III Asset Management.

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