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PARAMUS, NJ-NJ Office Realty Holding Co. has closed on the sale of 240 Frisch Court, a 65,000-sf office building situated on a three-acre site off Route 4 here. Terms of the transaction, including the sale price, were not disclosed.

The New York city-based institutional seller was represented by the GVA Williams of New Jersey (Parsippany) investment team of David Csontos, senior vice president of capital markets; Joe Boiseau, director; Marc Franco, director of financial services; and David Simson, president. The buyer was an investment fund managed by the Hampshire Cos. of Morristown, NJ. The building is currently 100% occupied by publisher Prentice Hall, but the tenant’s lease runs only through the end of September.

“It is our intention to reposition this building,” according to Norman Feinstein, president of the Hampshire Cos. “It offers an opportunistic scenario for many prospective tenants. It is strategically located in close proximity to major highways and the retail corridor along Route 4 in Bergen County.”

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