Orlando’s Princeton Oaks Phase I sold

MIAMI, Jan. 7, 2025 – JLL Capital Markets announced today the sale of Princeton Oaks Phase I, a 513,560-square-foot, Class A industrial park in Orlando, Florida.

JLL represented the seller, an affiliate of PGIM Real Estate, in the sale to LaSalle Investment Management.

Completed in 2018-2019, Princeton Oaks Phase I consists of five state-of-the-art, multi-tenant industrial buildings currently 100% leased to a diverse roster of 15 high-quality tenants, targeting the highest demand users for industrial spaces in the Orlando market.

The property is strategically located in Orlando's Northwest Orange County submarket, just minutes from downtown Orlando and major highways including John Young Parkway, SR-408 and I-4. The property's location provides access to over 3.75 million consumers within a 60-minute drive, making it highly attractive for last-mile logistics and regional distribution operations.

The JLL Capital Markets Investment Sales and Advisory team was led by Managing Director Luis Castillo, Senior Director Cody Brais, Senior Managing Director John Huguenard and Associate Taylor Osborne. The leasing efforts for the property are spearheaded by Foundry Commercial’s Justin Ruby and Joey Woodman.

“Princeton Oaks represented a rare opportunity to acquire a trophy industrial asset of scale in one of the nation's top-performing markets,” said Castillo. “With its state-of-the-art specifications, strategic infill location and significant mark-to-market potential, this property is well-positioned to capitalize on Orlando's explosive industrial growth and deliver strong returns for years to come.”

“As more tenants seek proximity to urban centers and labor pools, developments such as Princeton Oaks are poised to leverage the market’s momentum, offering optimal spaces that match the needs of today’s users,” added Brais. “This trend signals a promising trajectory for Orlando, making it a critical hub for industrial investment in the Southeast.”

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.

For more news, videos and research resources, please visit JLL’s newsroom.

With $210 billion in gross assets under management and administration, PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture and impact solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate’s risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

For more information, please visit www.lasalle.com, and LinkedIn.