Onyx Equities recently acquired 303 Corporate Center, a 69,640-square-foot office complex in Freehold, N.J.
The value of the transaction was not disclosed.
A private investor sold the two-building property, which comprises a four-story, 59,266-square-foot building and a one-story, 10,374-square-foot building, which was leased at the time of sale by CentraState Medical Center.
The asset also features a pad site offering the potential for an 8,000-square-foot, single-story office building, according to a press statement.
“With its close proximity to CentraState Medical Center, 303 Corporate Center is ideal for medical offices,” said Michael K. Nevins, Onyx’s vice president of asset management, in a statement. “The building’s entrance lobby was recently renovated and in order to further enhance the property, Onyx is implementing a comprehensive capital improvement campaign, which includes building facade upgrades, the installation of new monument signage, landscape upgrades, and additional upgrades and renovations to interior common areas, making it a premier location for businesses serving the healthcare market.”
Woodbridge, N.J.-based Onyx Equities LLC was formed in 2004 and currently owns a portfolio of office, retail and industrial properties in New Jersey, New York, Connecticut and Pennsylvania.