The property asset involved in this transaction is an office space located at 5 Vaughn Drive in Princeton. The total square footage is 19,601, and it is part of a building that has undergone significant renovations since 2020. This building is now 98.5% occupied, featuring a contemporary design suited for modern business needs.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Long-term lease
• Address: 5 Vaughn Drive
• Market: Princeton
• Landlord: David Elkouby, Ephraim Steinberg & Benzy Fishbane - American Equity Partners
• Tenant: Pete Mavoides - Essential Properties Realty Trust
• Landlord's Representative: Jason Benson, Thomas Romano & Vinny DiMeglio - JLL
• Tenant's Representative: Sab Russo - Princeton Property Partners

The transaction features Essential Properties Realty Trust, represented by Pete Mavoides, who has signed a long-term lease, effectively doubling its footprint by relocating from 902 Carnegie Center Blvd. The deal contributes to the overall occupancy of the building owned by American Equity Partners.