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Township of West Orange buys the Rock Spring Golf Club for $11.1M
The 138-acre Rock Spring Golf Club was sold for $11.1 million last week to the Township of West Orange, RE-NJ reported. HFF advised the seller, Montclair Golf Club, a West Orange-based operator and owner in the transaction. Montclair Golf Club bought Rock Spring in 2016, according to a March story from NJ.com, which noted that the site could be turned into condos. West Orange Mayor Robert Parisi has said publicly that the municipality could operate the 18-hole golf course for two years. A portion of the development site at 90 Rock Spring Road could also be put up for sale to recoup $600,000 in lost tax revenue due to the township’s ownership of the property. Patch.com reported that there is ongoing debate as to whether Rock Spring should be a 9-hole or 18-hole course. GlobeSt noted that Rock Spring has views of the New York City skyline and easy access to Manhattan via I-80 and New Jersey Transit bus and train service. West Orange is home to Edison Village, a $230 million mixed-use complex being developed by Prism Capital Partners, Dune Real Estate Partners and Greenfield Partners. RE-NJ reported in March on a key leasing milestone at the site, which inked its 100th lease on the 300-unit Edison Lofts. [RE-NJ]