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| Ashley Business Park, Cranford, NJ |
FLORHAM
PARK, NJ – HFF announced today that it has closed the sale of Ashley
Business Park, a 259,670-square-foot light industrial complex in Cranford,
New Jersey.
HFF marketed the property on behalf of the court appointed rent
receiver, Onyx Equities, LLC. Cranford
Business Park, LLC, a partnership of three major tenants at the property,
purchased the asset for $8.2 million.
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| Michael Nachamkin |
Ashley Business Park is located at 570 South Avenue, close to the Garden
State Parkway and Newark Liberty International Airport about 15 miles southwest
of New York City. Renovated in 2000,
the 88 percent leased property is comprised of 187,881 square feet of
industrial space and 71,289 square feet of office space.
The HFF investment sales team
representing the seller was led my managing director Michael Nachamkin.
Headquartered in Woodbridge,
New Jersey, Onyx Equities, LLC is a leading private real estate investment,
management and development firm.
Since
its founding in 2004, Onyx has acquired more than $1 billion worth of real
estate assets across the tri-state region.
The company
currently owns, manages or is the appointed receiver for 17 million square feet
of office, retail, industrial, and self-storage properties located in New
Jersey, New York, Connecticut and Pennsylvania.
For more information on Onyx Equities, contact the firm at (732)
362-8800, or visit www.onyxequities.com.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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