BREAKING NEWS

A Rarity: New Office Building to be Built in Houston

Howard Hughes Buys Office Building in The Woodlands

Demand for Vacation Homes Nosedives

DC Partners Adds Kimpton Hotel to Fredericksburg Project

RNR Real Estate Briefs – Texas & more

Houston Design District Adds Modern Apartments

REALTY NEWS REPORT - Logo

Downtown Houston
RNR-RalphBivinsProject-Interviews
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Boxer Buys New Jersey Building for $11 Million

by Realty News ReportJanuary 5, 2015
Share0
Eagle Rock Executive Office IV was purchased by Boxer Property.
Eagle Rock Executive Office IV was purchased by Boxer Property.

EAST HANOVER, N.J. — Boxer Property, a Houston-based firm led by Andrew Segal, has acquired a 177,820-square-foot office building in East Hanover, which is about 15 miles northwest of Newark, N.J.

The seller was Griffin Capital Essential Asset REIT of El Segundo, Calif.

Boxer F3 LLC paid $10.95 million to buy the property, called the Executive Office Center in East Hanover. Boxer, founded in 1992, has an 18 million square foot portfolio in Texas, Georgia and other states.

Griffin Capital originally acquired the building in November 2013 as part of a larger transaction where the allocated acquisition price was $6.5 million. Three lease transactions were completed during the year of ownership raising occupancy from 35% to 41% and stabilizing near term rollover.

Scott Tausk, Griffin Capital’s Managing Director of Asset Management stated, “This sale of Eagle Rock represents the execution of a strategy we put in place when it was acquired as part of an 18-property portfolio transaction. Because the property did not fit the REIT’s single tenant, essential asset investment criteria, our asset management team created a short-term value creation business plan, executed that plan and divested the asset at a profit, all within thirteen months–we are very pleased with this   transaction and will strive to replicate these results as similar opportunities arise.”

 

Share0
previous post
Residential Rental Rates Up 24 Percent in Oil-Rich Midland, Texas
next post
CBL/Stirling Developing Large Retail Center in Lafayette, Louisiana

Related posts

A Rarity: New Office Building to be Built in Houston

Realty News ReportMay 20, 2025

Howard Hughes Buys Office Building in The Woodlands

Realty News ReportMay 19, 2025

Demand for Vacation Homes Nosedives

Realty News ReportMay 19, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

CommGate
new version
ECD-RealtyNewsReport-Ad-300x250
Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
RNR Ad 030124
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
230725-RNR_Digital-Ad_Red
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact