New Jersey office property acquired by Princeton University trades for $33.4M

MORRISTOWN, N.J., Dec. 2, 2024 – JLL Capital Markets announced today that it has completed the $33.4 million sale of Princeton Overlook, a 158,180-square-foot office building in West Windsor, New Jersey.

JLL represented the seller, Cali Overlook, LLC, and procured the buyer, Princeton University.

Princeton Overlook has a strategic location along US Route 1 in West Windsor Township with easy access to countless area amenities. Princeton University is a current occupant of the building with additional tenants currently including UBS Financial Services and Regus Coworking.

Positioned on approximately 21 acres, Princeton Overlook is a four-story office building that was built in 1988. The site was originally intended to house two buildings, therefore allowing future development on the vacant land.

JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Jose Cruz and Jeremy Neuer and Senior Analyst Bradley Wachenfeld.

“Our team has had significant success in the Princeton market as it attracts a unique buyer pool due to the vibrancy of the University and the talented workforce in the immediate area,” commented Cruz.

“Working with Princeton University is always a pleasure and with our client, Cali Futures, we were able to create a win-win scenario with the University,” added Neuer.

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 investment sales and 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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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.