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| Jeremy Neuer |
JLL represented the seller, Nessel Development, in the
sale of the property to New Jersey-based Strategic Funding Alternatives, LLC
(SFA). JLL’s Investment Sales and Advisory team advised on the seller
financing.
This is the second JLL sale to SFA within two years,
as well JLL’s second Princeton submarket office sale this year, having recently
closed Crossroad Corporate Center in Lawrenceville.
150 College Road West, a three-story, Class A
office building in Princeton, NJ
JLL’s previous office sales in the Princeton submarket include: 7&9 Roszel Road (two sales), 600 & 700 Alexander Park Road, 1 University Square and 800 Scudders Mill Road.
Built in 2001, 150 College Rd. West is a three-story
boutique office building that is 69% leased to a diverse tenant roster,
including a national health care and life sciences law firm and an engineering,
construction management and environmental services firm.
 |
| Jose Cruz |
The property is immediately adjacent to Princeton
Forrestal Village, which features a Westin Hotel and high-end restaurants
including Ruth’s Chris Steak House, and across from Princeton University’s
James Forrestal Campus.
The Princeton market is home to an affluent population
with an average household income of more than $206,000, as well as some
of the world’s leading finance, healthcare and R&D companies.
 |
| Tom Romano |
“This transaction was a true collaboration between the buyer and seller to consummate a closing in a challenging capital markets environment,” Neuer commented. “We look forward to working with both Nessel and SFA on future transactions.”
About Nessel Development
Nessel Development employs a value-add investment approach involving strategic redevelopment and creative leasing strategies. The firm owns and operates commercial real estate throughout the country.
 |
| Alexander Alfier |
SFA is a privately held commercial real estate investment firm located
in Moorestown, New Jersey. Founded in 2016, SFA has become one of the fastest
growing firms in the Southern and Central New jersey market with 32 properties
and 1.4 million square feet.
CONTACT:
Kristen Murphy
JLL Director
Public Relations
Phone: +1 617 543 4873
Email: Kristen.Murphy@jll.com
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