New Jersey office property acquired by Princeton University is trading for $33.4 million

Princeton Overlook, a 158,180-square-foot office building in West Windsor, has been sold to Princeton University for $33.4 million, according to a recent announcement from JLL Capital Markets.

JLL represented both the seller, Cali Overlook LLC, and the buyer.

Princeton University is the building’s current resident, and other current tenants include UBS Financial Services and Regus Coworking.

Princeton Overlook spans approximately 21 acres and is strategically located on U.S. Route 1 in West Windsor Township with easy access to countless area amenities. The four-story office building was built in 1988 on land that was originally intended for two buildings, thus enabling future development on the undeveloped property.

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

“Our team has achieved significant success in the Princeton market, which attracts a unique group of buyers due to the vibrancy of the university and the talented workforce in the immediate area,” Cruz said.

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