AvalonBay Communities has sold Lawrenceville, a 632-unit, value-add, garden-style multi-housing community near Princeton University in Lawrenceville, N.J.
The financial terms and the new owner were not disclosed.
Constructed in two phases in 1992 and 1996, the institutionally owned and maintained Lawrenceville contains 19 buildings that house one-, two- and three-bedroom units that average 1,120 square feet in size. The amenity-rich community has two swimming pools, a dog park, carports, fitness center, clubhouse, outdoor gazebos, tennis court, playground, racquetball court and three barbeque areas.
Lawrenceville spans 46.76 acres at 1000 Town Court South in a prime location within the Princeton submarket in in Lawrenceville, which is adjacent to Princeton, one of the most affluent towns in the country and home to Princeton University. With the property located less than one mile from Route 1, residents of the community have easy access to key employment hubs i
