New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
HFF Arranges Sale of East Hanover Offices
Eagle Rock Executive Office IV, a 178,000-square-foot, Class A office building in East Hanover, NJ has sold to Northeast Capital Group for an undisclosed sum. An HFF team of Kevin O’Hearn, Jose Cruz, Stephen Simonelli and Michael Oliver represented the seller, Boxer Property, in the transaction.
Situated within a three-building office park in Northern New Jersey’s Morris County, the three-story Eagle Rock IV is approximately 79% leased to tenants including Prudential Insurance Company of America, Kessler Foundation, and GFK.
Recent renovations at the property include upgraded interior finishes, and the addition of a Tenant Center. About 9% of the building is given over to co-working space, which has served as an incubator for tenants growing into larger units.
Since HFF arranged the sale of the property to Boxer several years ago, “they have made significant capital improvements, which resulted in an increase in occupancy, including several noteworthy tenants,” said O’Hearn.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
