HFF closes $11.1M sale of 138-acre site in West Orange

By Emily Bader
West Orange | Apr 24, 2019 at 9:00 am

Holliday Fenoglio Fowler L.P. announced Tuesday it has closed on the $11.1 million sale of a 138-acre development site in West Orange.

HFF said it marketed the property on behalf of the seller, Montclair Golf Club. The buyer was the Township of West Orange.

The site, located at 90 Rock Spring Road, is within close access to Interstate 280 and NJ Transit bus and rail services. It is directly adjacent to the South Mountain Reservation, a 2,000-acre park that houses the Turtleback Zoo, indoor ice rinks, walking trails, paddle boats, playgrounds, miniature golf and more.

“West Orange is excited to now own the Rock Spring Golf Club at West Orange,” West Orange Mayor Robert D. Parisi said.  “This is the premier golf course in the Mid-Atlantic region, which will now serve the entire community, our neighbors and visitors.  We look forward to its success and the opportunities it presents to preserve open space and improve the quality of life.”

Jose Cruz, Kevin O’Hearn, Michael Oliver and Stephen Simonelli of HFF’s investment advisory team represented the seller.

“We are very pleased that the town opted to pursue the land site,” Cruz said.  “The opportunity to acquire 138-plus acres in West Orange is extremely rare.”

Emily Bader | ebader@roi-nj.com | emilybader