The seller was WW Commons LLC, an entity controlled by Prudential Realty Advisors and by the Parsippany, NJ-based SJP Properties. The buyer is Roszel Road Investors LLC, an entity controlled by UBS Realty Advisors.

The deal was arranged by the Stamford, CT- and Paramus, NJ-based Tri-State Investment Team of CB Richard Ellis. The group's team leader, Jeffrey R. Dunne, along with Chris McManus and Kevin Welsh, represented the seller and procured the buyer for the property.

"They bought a prime piece of real estate, one of the premier office assets in all of New Jersey," Dunne says. "It is relatively new real estate with blue chip tenants in a blue chip location [in the Princeton market]. It is recognized as a trophy-quality asset with an investment-grade rent roll.

"SJP Properties and Prudential achieved all of their financial objectives--Prudential tends to have a limited holding period, less than 10 years--and it made sense to sell," Dunne continues. "And UBS liked the opportunity."

Major tenants include Merrill Lynch, the world headquarters of Tyco International, Pharmacia (now part of Pfizer) and Upjohn, along with Korn Ferry International. Indeed, the property made some headlines earlier this year when it was announced that Tyco International was relocating its headquarters and combining its operations from New York City, Boca Raton, FL and Bermuda to the site (see earlier story).

The Tyco deal was actually a sublease from Merrill Lynch, which leases all of the space on a direct basis, but occupies only a fraction of it. Tyco has moved some 300 jobs to the site, and while it hasn't been disclosed just how much space the industrial conglomerate is occupying, industry sources put it in the 100,000-sf range.

The Commons at West Windsor's two buildings include the five-story, 190,000-sf 9 Roszel Rd., with the adjacent 7 Roszel Rd. making up the rest of the 302,561-sf total.