414 Eagle Rock Ave. in West Orange — Courtesy: Marcus & Millichap
By Joshua Burd
An investor has acquired a 60,000-square-foot office building in West Orange, following a nearly $9 million transaction arranged by Marcus & Millichap.
The firm on Tuesday announced the sale of 414 Eagle Rock Ave. after marketing the property on behalf of a private investor. Known as Skyline Plaza, the three-story building was 92 percent occupied at the time of the deal, including a roster of six medical tenants.
Marcus & Millichap investment sale specialists Fahri Ozturk and Kim Kretowicz completed the $8.825 million deal for the firm’s Saddle Brook office.
“Skyline Plaza provided an opportunity for quality office space in a high demand market in northern New Jersey,” Ozturk said. “We were able to efficiently market the property through Marcus and Millichap’s national exposure.”
He touted Skyline Plaza’s location off Interstate 280 and near the Eagle Rock reservation. The property recently underwent renovations to improve the HVAC system, furniture, plaza and common areas.