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News release

PRINCETON, NJ

Institutional Demand Fuels New Jersey’s Latest Sale and Financing

JLL closes sale, secures $60 million in financing for Princeton South Corporate Center


PRINCETON, N.J., April 7, 2015 – On behalf of Rubenstein Partners, JLL’s Capital Markets experts today announced the sale of Princeton South Corporate Center, which is comprised of two Class A office buildings located in Ewing, N.J. A New York-based buyer purchased the properties. Additionally, JLL secured $60 million acquisition financing, with Morgan Stanley providing the 10-year loan.

Managing Director Joseph Garibaldi and Executive Vice President Thomas Walsh led the JLL team on the sales transaction while Managing Director Dustin Stolly led the financing efforts.

“Both tenants and investors continue to show their confidence in the returns Princeton’s submarket delivers,” said Walsh. “This sale is a true testament to the quality of the properties and the strength of the market.”

Added Stolly, “The properties feature many credit-worthy tenants, resulting in secure cash-flow. This really drew lenders to back this opportunity.”

Princeton South Corporate Center consists of 100 Princeton South Corporate Center, totaling 113,730 square feet and 200 Princeton South Corporate Center, totaling 153,514 square feet. The properties’ amenities include a full-service cafeteria, fitness center and conference facility.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.