{"id":1004654109,"date":"2023-03-30T01:31:08","date_gmt":"2023-03-30T09:31:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004654109"},"modified":"2023-05-15T05:09:35","modified_gmt":"2023-05-15T13:09:35","slug":"gilbane-development-sells-princeton-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gilbane-development-sells-princeton-office-building\/","title":{"rendered":"Gilbane Development Sells Princeton Office Building"},"content":{"rendered":"
\"Crossroads<\/a>

Crossroads Corporate Center. Image courtesy of JLL<\/em><\/p><\/div>\n

Gilbane Development Co<\/strong>. has sold a 100,925-square-foot office building in Lawrenceville, N.J., to a joint venture led by Simone Realty Inc<\/strong>. Crossroads Corporate Center previously changed hands in 2002, when Leggat McCall Properties sold it for $11.6 million, CommercialEdge data shows. JLL <\/strong>brokered the deal\u00a0on behalf of the seller.<\/p>\n

Part of the Princeton submarket, the three-story property’s tenant roster includes companies such as United Way of Greater Mercer County, Pro Direct and Davinci Meeting Rooms, among others, according to CommercialEdge.<\/p>\n

Located at 3150 Brunswick Pike, the building includes two passenger elevators, floorplates ranging between 32,607 and 34,129 square feet, as well as 510 parking spots. Built in 1991, the property went through several improvements in the past years, and features a two-story common-area lobby and outdoor balconies.<\/p>\n

Situated on a 50-acre lot, the asset is close to U.S. Highway 1 and Interstate 295. The property is near the 1 million-square-foot Quakerbridge Mall, 6 miles from downtown Princeton, N.J. and within 42 miles of Newark Liberty International Airport.<\/p>\n

JLL\u2019s team included Managing Director Thomas Romano and Senior Managing Directors Jeremy Neuer, Jose Cruz and Kevin O\u2019Hearn, along with Directors J.B. Bruno and Jason Lundy.<\/p>\n

In late 2022, the brokerage facilitated the sale of a 400,000-square-foot trophy office asset in Parsippany, N.J. Signature Acquisitions picked up<\/a> the LEED Silver-certified building. Earlier this month, Signature purchased another Northern New Jersey office<\/a> asset in Warren, N.J. The property is part of Independence Boulevard, a five-building, 650,000-square-foot office campus.<\/p>\n","protected":false},"excerpt":{"rendered":"

The property last traded in 2002, for $11.6 million.<\/p>\n","protected":false},"author":2991,"featured_media":1004654111,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1600,21742,10,21747],"tags":[37195,32796],"class_list":["post-1004654109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-new-york","category-latest","category-northeast","category-office","tag-gilbane-development-company","tag-jll"],"acf":[],"yoast_head":"\nGilbane Development Sells Princeton Office Building - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Gilbane Development Co. has sold a 100,925-square-foot office building in Lawrenceville, N.J., to a joint venture led by Simone Realty, Inc.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/gilbane-development-sells-princeton-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gilbane Development Sells Princeton Office Building\" \/>\n<meta property=\"og:description\" content=\"Gilbane Development Co. has sold a 100,925-square-foot office building in Lawrenceville, N.J., to a joint venture led by Simone Realty, Inc.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/gilbane-development-sells-princeton-office-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-30T09:31:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-15T13:09:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/crossroads-corporate-center-teaser-e1680085494976.png\" \/>\n\t<meta property=\"og:image:width\" content=\"792\" \/>\n\t<meta property=\"og:image:height\" content=\"594\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gilbane-development-sells-princeton-office-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/gilbane-development-sells-princeton-office-building\/\",\"name\":\"Gilbane Development Sells Princeton Office Building - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gilbane-development-sells-princeton-office-building\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gilbane-development-sells-princeton-office-building\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/crossroads-corporate-center-teaser-e1680085494976.png\",\"datePublished\":\"2023-03-30T09:31:08+00:00\",\"dateModified\":\"2023-05-15T13:09:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"Gilbane Development Co. has sold a 100,925-square-foot office building in Lawrenceville, N.J., to a joint venture led by Simone Realty, Inc.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gilbane-development-sells-princeton-office-building\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/gilbane-development-sells-princeton-office-building\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gilbane-development-sells-princeton-office-building\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/crossroads-corporate-center-teaser-e1680085494976.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/crossroads-corporate-center-teaser-e1680085494976.png\",\"width\":792,\"height\":594,\"caption\":\"Crossroads Corporate Center. 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