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| Eagle Rock Executive Office IV, 120 Eagle Rock Avenue, East Hanover, NJ |
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| Jose Cruz |
FLORHAM PARK, NJ – HFF announced it has closed the $10.95
million sale of Eagle Rock Executive Office IV, a 177,820-square-foot,
Class A office building in East Hanover, a township in northern New Jersey 15
miles northwest of Newark.
HFF marketed the property on behalf of the seller, Griffin
Capital Essential Asset REIT, Inc. (GCEAR).
Boxer F3, L.L.C. purchased the property free and clear of existing debt,
and Boxer Property will manage and lease the building.
The three-story Eagle Rock Executive Office IV is situated
on 15.25 acres at 120 Eagle Rock Avenue in the northern New Jersey office
market, which is the sixth largest office market in the U.S.
The asset is part of the three-building Eagle Rock Executive
Park and has frontage along Interstate 280 and is accessible via Eisenhower
Parkway and Ridgedale Avenue.
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| Kevin O'Hearn |
The building features a granite and reflective glass curtain
wall facade, two-story atrium, full-service cafeteria and adjacent pond with
fountains. Tenants include Prudential;
GfK US Holdings; CAI; Fishman McIntyre; P.C.; and John Van Deusen &
Associates.
The HFF investment sales team was led by senior managing
director Jose Cruz, managing director Kevin O’Hearn, senior real
estate analyst Marc Duval and supported by senior managing director Andrew
Scandalios.
“Boxer’s purchase of 120 Eagle Rock allows them to begin
their expansion into New Jersey with a Class A asset in growing Morris County,”
Cruz said.
“Boxer performed exceptionally well and GCEAR and its
sponsor, Griffin Capital Corporation, were pleased with the disposition of this
non-core asset,” O’Hearn added.
For a complete
copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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