Joint venture shells out $116M for Rockland County industrial park

May 15, 2019 05:02PM

A joint venture between New Jersey-based Onyx Equities and investment firm Angelo Gordon, advised by CBRE Group, has snapped up Bradley Corporate Park in Blauvelt in “the largest commercial acquisition in Rockland County since 2016,” according to Real Estate NJ. The 1.2 million-square-foot property sold for $116 million, the outlet reported. The industrial park includes 16 buildings and is approximately 90 percent occupied. “This portfolio provides our venture stable cash flow with the ability to increase revenue through strategic renovation and lease up, as well as potential for development,” Onyx’ chief investment officer Stephen Sullivan said in a statement. [RE-NJ]