 |
| 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 | www.hfflp.com
No comments:
Post a Comment