Rockaway 80 at 100 Enterprise Drive — Courtesy: HFF
By Joshua Burd
An investment firm based in Toronto has acquired a 264,000-square-foot office complex in Rockaway, brokers with HFF announced Wednesday.
The buyer, Northbridge Investment Management Inc., purchased the building known as Rockaway 80 for an undisclosed price. The property is located at 100 Enterprise Drive, which is adjacent to Rockaway Townsquare and the Route 15 and Interstate 80 interchange.
Term were not disclosed.
The HFF investment advisory team representing the seller included Senior Managing Director Jose Cruz, managing directors Kevin O’Hearn and Brett Segal and senior directors Michael Oliver and Stephen Simonelli. The brokers also procured the buyer.
“This sale reflects the increasing demand for high quality suburban office product, and we are thrilled to have identified a foreign buyer for it,” O’Hearn said.
HFF touted Rockaway 80’s proximity to an adjacent Wal-Mart-anchored shopping center with several other large retail stores located nearby. The seven-story property was built in 1991 and features a two-story atrium lobby, a reflective glass and granite façade, full-service cafeteria, ample covered parking and panoramic views from the upper floors.
