In December 2007, GF Princeton, LLC, a Greyfields affiliate, acquired the leasehold interest in the Wachovia Office Campus, a 16.3 acre parcel improved by two office buildings containing approximately 180,000 square feet.

The property is located off of Interstate 95 in a highly desirable sub-market of Princeton, New Jersey; the ground lease runs until 2060. The buildings were most recently occupied by Wachovia Corporation and were the former headquarters and operations center for New Jersey National Bank.

By leveraging a longstanding relationship, Greyfields and the previous owner were able to work together to close within an accelerated timeframe, allowing the institutional owner to dispose of a non-core asset on a timely basis. Greyfields expects to capture significant upside through intensive asset management.