Titanium Industries has bought the 90,582-square-foot office/industrial property at 18 Green Pond Road in Rockaway, N.J. from Plastic Specialties and Technologies.


The sale price was not disclosed.


Titanium Industries, a provider of titanium mill products to industrial, aerospace, medical and specialty markets, is relocating its headquarters from Parsippany. The firm will occupy approximately 40,000 square feet of the building


“With its close proximity to Route 80, 18 Green Pond Road is in an excellent location for firms that need easy access to the New York metropolitan area while attracting a quality labor pool,” says Mr. Gaffney.


Douglas Gaffney, senior managing director of the Schultz Organization, represented the buyer, while the firm’s Senior Managing Director John Friedland and James Klayman represented the seller, Plastic Specialties and Technologies Inc.


The Schultz Organization has been retained as the exclusive leasing agent for the remaining 50,000 square feet available, which can be used for distribution or light industrial uses.


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