Friday, May 26, 2017

HFF closes sale of 400,000-square-foot, 4-building office complex in West Orange, NJ

Executive Hill Office Park, West Orange, NJ

Jose Cruz
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Executive Hill Office Park, a four-building office complex totaling over 400,000 square feet in the Essex County community of West Orange, New Jersey.

HFF marketed the property exclusively on behalf of the seller, an entity controlled by RNY Property Trust, and procured the buyer, PAG Investments.

The office complex consists of 31 acres and comprises 10 Rooney Circle and 100-300 Executive Drive.  Built between 1971 and 1984, the complex amenities include a full-service cafeteria, shared conference room and fitness center.

 The property is 48 percent leased to tenants, including Lincoln Educational, GEICO and a U.S. government agency.  Located off Prospect Avenue and Rooney Circle, Executive Hill Office Park is situated at a full interchange of Interstate 280.  The Essex Green Shopping Center is also located adjacent to the complex, providing additional convenience. 

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Michael Oliver and Stephen Simonelli, associate director Marc Duval and supported by senior managing director Andrew Scandalios.

 “This is a unique transaction that appealed to the office buyers as well as redevelopers,” according to Cruz.  “The buyers saw significant near term upside in the office space and longer term potential in a repositioning play.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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