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120 Eagle Rock - Availability Details

120 Eagle Rock Avenue, East Hanover, NJ 07006

Cushman & Wakefield is pleased to present a 100% fee interest in 120 Eagle Rock Avenue for sale. This best-in-market, Class-A building totals 177,879 SF and is 88% leased to 30 tenants with a 6.6-year WALT. The Property is anchored by one of NJ’s most acclaimed medical providers and research organizations, the Kessler Foundation, and is uniquely positioned as the premier office property amongst local competition.

The Building’s prominent granite exterior and reflective glass curtainwall façade, along with its full-height atrium lobby, provide lasting high-quality attributes and have enabled it to attract a prestigious and diverse roster of tenants since it was built. Furthermore, the Property provides an exceptional infrastructure with a full amenity package, yet at a 25%+ discount to truly comparable Class-A assets within nearby submarkets such as Florham Park, Parsippany, Whippany, and the Greater Morristown Area.

Investors will have the opportunity to further stabilize the rent roll while taking advantage of the below-market in-place rents (weighted average of $23.02 PSF and anchor tenant rent of just $22.00 PSF), while also potentially implementing a parking lot solar array for both energy efficiency and potential credits/income.

Over the past six months, ownership has experienced nearly 37,272 SF of leasing activity (new and renewal) proving 120 Eagle Rock’s desirability.

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Location

  • City East Hanover, NJ
  • Neighborhood East Hanover
  • Zip Code 07006
  • Market New Jersey

Highlights

  • - Uniquely Positioned, Post-Covid Workplace
  • - Best Quality for the Price
  • - Desirable Location
  • - Rapidly Changing Market Landscape

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