GLEN ROCK, NJ-The Hampshire Cos. and Onyx Equities are teaming up to buy 85 Harristown Rd., a two-story, 48,000-square-foot office building here. The seller was Motorola Inc., which has vacated the premises, and the sale price was not disclosed.

The building’s vacancy will pave the way for a makeover lasting through 2009 and including new facades, windows, lobbies, landscaping, HVAC and roof. Onyx and Hampshire, which acquired the property on behalf of its Hampshire Partners Fund VII, will target medical office users to fill the asset. The site also comes with additional development rights.

“The location, additional development rights and the fact that this asset has never been on the market make it a great candidate to reposition,” says Jonathan Davis, VP of investments for the Woodbridge-based Onyx. “We can create significant value for our joint venture.”

“Based on our ability to meet tenant demand and Onyx Equities’ track record in the medical office marketplace, this is a strong addition to our portfolio,” says Todd Anderson, a principal of the Morristown-based Hampshire.

For Onyx, meanwhile, the pick-up is its second along this Bergen County thoroughfare. In 2006, the company acquired Glen Rock Plaza, a 60,000-square-foot class B building at 266 Harristown Rd. from Burt Ross Realty for $6.7 million, or $112 per square foot. The building remains in Onyx’s portfolio, with availabilities currently listed with an asking price of $24.50 per square foot.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.