EAST HANOVER, NJ—Griffin Capital Corporation's Essential Asset REIT, sold the Eagle Rock Executive Office Center IV in East Hanover, NJ to Boxer F3 LLC, a value add multi-tenant office buyer, for $10.95 million.
The property is a 177,820-square-foot, class A office building 15 miles northwest of Newark. This acquisition marks Houston-based Boxer's entrance into the New Jersey market. Eagle Rock Executive Office IV was constructed in 1990 and features a granite and reflective glass curtain wall façade, a two-story atrium lobby, a full service cafeteria, and adjacent pond with fountains.
"I am excited for Boxer to enter the NJ market with such a high quality building,” says Brad Nichol, director of acquisitions for Boxer. “With a solid base of international tenants, the building presents a stable platform for Boxer to increase value through our superior management and leasing teams.”
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
