Real Estate Journal — New Jersey — January 12 - 25, 2018 — 5B


M id A tlantic

N ew J ersey

HFF represents seller, Mack-Cali in the transaction Onyx Equities and Garrison Investment Group expand Bergen office portfolio

EWJERSEY — Onyx Equities, LLC , in a joint venture partner- ship with Garrison Invest- ment Group , announced the acquisition of the leasehold interest in 61 South Para- mus Rd., a 285,000 s/f office building located in Paramus, NJ, from seller Mack-Cali Realty Corporation . The partnership’s Bergen County portfolio affords current and prospective tenants the option to grow, relocate, and modify their space within the same geographic market through one point of contact. The partnership’s Bergen County portfolio is now com- prised of 1.4 million s/f across six assets located throughout Paramus and Rochelle Park, NJ, along the highly-desirable Garden State Pkwy. Corridor: • 61 South Paramus Rd., a five-story, 285,000 s/f office building located in Paramus at Exit 161 of the Garden State Pkwy. • 461 FromRd., a five-story, 260,962 s/f office building located in Paramus at the intersection of Rte. 17 and Midland Ave. • 15 East Midland Ave., a five-story, 260,832 s/f office building located in Paramus just off Exit 165 of the Garden State Pkwy. • 365 West Passaic St., a five-story, 218,492 s/f office building located in Rochelle Park and situated at Exit 160 of the Garden State Pkwy. • 395 West Passaic St., a four-story, 107,969 s/f office building located in Rochelle Park and situated at Exit 160 of the Garden State Pkwy. • 115-117 West Century Rd., a two-building office campus totaling 302,945 s/f, located in Paramus immedi- ately off of Rte. 17 and the Garden State Pkwy. The partnership’s common area renovations are nearing com- pletion here. “61 South Paramus has the potential to be one of Bergen County’s best intuitional of- fice buildings. It currently houses significant corporate operations and is situated in one of the most highly sought- after office locations.” said Stephen Sullivan , chief investment officer at Onyx Equities. “We are pleased to have finalized this acqui- sition and look forward to implementing Onyx’s signa- ture, value-add strategy in N

partnership with Garrison Investment Group.” This deal is the fifth venture between Garrison and Onyx. “We look forward to delivering a modern workplace environ- ment at 61 South Paramus Rd. that the tenants of Bergen County deserve, complete with high-end renovations, upgraded amenities, and a new class A management team,” added Kristi Mazejy , VP at Garrison Investment Group. All of these properties are located just off of several of the largest thoroughfares in

the state, including Rte. 17, Rte. 4, I-80 and the Garden State Pkwy. Cole Schotz P.C. and Mil- bank, Tweed, Hadley & McCloy LLP represented the buyer. The investment sales team from Holliday Fenoglio Fowler, L.P. (HFF) com- prised of senior managing director Jose Cruz , manag- ing director Kevin O’Hearn , senior directors Michael Oli- ver and Stephen Simonelli and director Marc Duval , represented the seller, Mack- Cali Realty Corporation. n

461 From Rd.

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