At 1009 Lenox Drive in Lawrenceville, Vision Real Estate Partners recently announced it has inked a 90,000-square-foot lease with Billtrust.
Vision was represented by Steve Tolkach, executive managing director for Newmark Knight Frank, while Bradford Fenlon, executive managing director of Colliers International, represented the tenant in the transaction.
“Our site search for Billtrust involved more than 80 properties in a 30-mile radius,” Fenlon said. “We looked at existing office buildings, build-to-suit opportunities, raw land and adaptive reuse sites. Ultimately, 1009 Lenox Drive was the clear top choice. This property offered signage on I-95 and expansion potential to nearly double Billtrust’s square footage moving forward. Additionally, the amenity package at Princeton Pike is unsurpassed by any of its regional competitors, providing Billtrust with the ability to offer its employees an environment that promotes work/life balance.”
Billtrust, a payment cycle management software company, will establish its new headquarters at the Class A office campus, relocating from Hamilton. The firm expects to create 200 new jobs and retain 228 employees.
Billtrust was the recipient of a tax credit from the New Jersey Economic Development Authority.
“Since early 2016, VREP has orchestrated a multi-million-dollar revitalization of the eight-building, 817,000-square-foot campus, which is focused on fostering productive workplaces and personal fulfillment in a distinctive work/play environment,” Vision said in a news release. “Upgrades to the building at 1009 Lenox Drive include a recently completed atrium with a waterfall feature and enhanced lifestyle amenities including a renovated café and extended-hours coffee bar. Multiple seating areas, which provide space for work or social gatherings, are adjacent to fitness and conference facilities. In conjunction with the Build Trust lease, VREP will be expanding the recreation area to include a basketball court.”
Billtrust joins Sirius XM Radio, Morgan Stanley, Wells Fargo Advisors and Fox Rothschild LLP at the Princeton Pike Corporate Center.