ASHLEY BUSINESS PARK SELLS FOR $8.2M IN NORTHERN NEW JERSEY

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CRANFORD, N.J. — Ashley Business Park, a 259,670-square-foot light industrial complex in Cranford, has sold for $8.2 million. Cranford Business Park LLC, a partnership of three major tenants at the property, acquired the asset. The business complex is located at 570 S. Ave., about 15 miles southwest of New York City. Renovated in 2000, the property is 88 percent leased and includes 187,881 square feet of industrial space and 71,289 square feet of office spaces. HFF marketed the property on behalf of the court appointed rent receiver, Onyx Equities LLC.

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