HFF closes sale of 178,000 s/f office building in East Hanover
EAST HANOVER, NJ — Holliday Fenoglio Fowler, L.P. (HFF) announced the sale of Eagle Rock Executive Office IV, a 178,000 s/f, class A office building in East Hanover. HFF represented the seller, Boxer Property, in the transaction. Ramapo, New York-based Northeast Capital Group purchased the asset. Eagle Rock Executive Office IV is located at 120 Eagle Rock Ave. just off I-280 in Northern New Jersey’s Essex County. Situated within a three-building office park, the three-story building is 79% leased to notable 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”, which features a new cafeteria, conference rooms, tenant lounge and fitness center. The property also features co-working space in approximately nine percent of the space, which has served as an incubator for tenants growing into larger units.