Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Rockaway 80, a 264,000-square-foot office complex in Rockaway.
The HFF team marketed the property on behalf of the seller, an institutional client, and procured the buyer, Northbridge Investment Management, Inc. based in Toronto, Canada.
Rockaway 80 is situated on an 11-acre site at 100 Enterprise Drive, which is adjacent to Rockaway Townsquare and the Route 15/Interstate 80 interchange in Northern New Jersey. The property is walkable to an adjacent Wal-Mart anchored shopping center with several other large retail stores located nearby. The seven-story property was originally built in 1991 and features an impressive two-story atrium lobby, an attractive reflective glass and granite façade, full-service cafeteria, ample covered parking and panoramic views from the upper floors.
The HFF investment advisory team representing the seller included senior managing director Jose Cruz, managing directors Kevin O’Hearn and Brett Segal and senior directors Michael Oliver and Stephen Simonelli.
“This sale reflects the increasing demand for high quality suburban office product, and we are thrilled to have identified a foreign buyer for it,” said O’Hearn.
HFF and Holliday GP Corp. (“HFF”) are licensed New Jersey real estate brokers.