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Motorola Sells 48,000-SF Office

GLEN ROCK, NJ-New owners Hampshire and Onyx will upgrade the two-story asset and reposition it with an eye on medical tenants.

By Eric Peterson | Updated on January 20, 2009

GLEN ROCK, NJ-The Hampshire Cos. and Onyx Equities are teaming up to buy 85 Harristown Rd., a two-story, 48,000-square-foot office building here. The seller was Motorola Inc., which has vacated the premises, and the sale price was not disclosed.

The building’s vacancy will pave the way for a makeover lasting through 2009 and including new facades, windows, lobbies, landscaping, HVAC and roof. Onyx and Hampshire, which acquired the property on behalf of its Hampshire Partners Fund VII, will target medical office users to fill the asset. The site also comes with additional development rights.

“The location, additional development rights and the fact that this asset has never been on the market make it a great candidate to reposition,” says Jonathan Davis, VP of investments for the Woodbridge-based Onyx. “We can create significant value for our joint venture.”

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