The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at more than $2 billion, in a joint venture with Onyx Equities have announced the acquisition of a 48,000-square-foot office building located at 85 Harristown Road in Glen Rock N.J. The property was purchased from Motorola, Inc.
The property will undergo major renovations and upgrades throughout 2009, which will include new facades, windows, lobbies, landscaping, HVAC system, roof, and restrooms making it ideal for medical office users. In addition, the property offers ample parking and is easily accessible to all Northern New Jersey major roadways including I-287, I-80, I-95, the Garden State Parkway, and Routes 208, 4, 7, and 46.
“Based on our ability to meet and exceed tenant demand and Onyx Equities’ successful track record in the medical / office marketplace, this acquisition is a strong addition to our portfolio,” said Todd Anderson, a Principal of The Hampshire Companies.
“The location, additional development rights, and the fact that this asset has never been on market make it a perfect candidate to reposition and create significant value for our joint venture,” added Jonathan Davis, Vice President of Investments of Onyx Equities.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at HampshireRE.com.
R&J Public Relations