JLL announced April 21 that it closed the sale of 742 and 746 Alexander Road, a two-building office complex totaling nearly 110,000 square feet in West Windsor.
742 and 746 Alexander Road is located within the prestigious Princeton office market, which is home to numerous major corporations and pharmaceutical companies. The properties served as the corporate headquarters of Princeton Insurance Co. from the 1980s until just recently, when Princeton decided to relocate to a nearby property. The three-story 742 Alexander Road property consists of approximately 50,000 square feet. 746 Alexander Road is a two-story, approximately 60,000-square-foot building.
On-site tenant amenities and features currently include a cafeteria, fitness center and atrium lobby.
JLL’s team representing the seller was led by Senior Managing Directors Kevin O’Hearn and Jose Cruz, Managing Director Thomas Romano and Managing Directors Michael Oliver and Steve Simonelli.
“Princeton Insurance is a long-time client, and we’re thrilled to not only handle the disposition of their property, but also the relocation of their Princeton office,” Romano said.
“The Alexander Road properties presented a tremendous value add and renovation opportunity for an investor,” O’Hearn added. “SFA owns similar properties in the region and was attracted to the prime location and flexible floor plates that can accommodate a wide variety of renovation strategies.”