Princeton office building sold to new investor
JLL completed the sale of the 100,925-square-foot Crossroads Corporate Center in Lawrenceville, New Jersey
MORRISTOWN, Mar. 28, 2023 – JLL announced today that it has closed the sale of Crossroads Corporate Center, a 100,925-square-foot office property in the Princeton submarket of New Jersey.
JLL represented the seller, Gilbane Development Company. A joint venture partnership formed by Simone Realty, Inc. acquired the asset.
Built in 1991, and having undergone several renovations since then, the three-story building features a dramatic two-story lobby, exterior balconies and a high parking ratio. The property is situated on over 45 acres of land, which includes a large pond with scenic views.
Located at 3150 Brunswick Pike, at the prime interchange of Interstate 295 and U.S. Route 1, the property benefits from strategic access and strong identity/high visibility. In addition, the property is just south of the one-million-square-foot Quakerbridge Mall and less than five miles from downtown Princeton.
The JLL team was led by Jeremy Neuer, Jose Cruz, Kevin O'Hearn, Thomas Romano, J.B. Bruno and Jason Lundy.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.