C&W nets $6.7m in 'under-served market'.

ONYX Equities, LLC has purchased 266 Harristown Road, a 60,000 s/f, three-story office building in Glen Rock from Burt Ross Realty.

Cushman & Wake field's Metropolitan Area Capital Markets Group in East Rutherford negotiated the $6.7 million sale.

Middle-market investment sales transactions under $15 million like 266 Harristown Road represent a growing area of business for Cushman & Wakefield's Metropolitan Area Capital Markets Group. Since its founding in 1987, the group has specialized in large real estate investment sales transactions in northern New Jersey; Fairfield County, Conn.; and Long Island and Westchester County, N.Y.

The team has completed more than $10 billion worth of transactions during the past decade and more than $2 billion for 2005.

Last year, the Metropolitan Area Capital Markets Group expanded its focus to include middle-market sales transactions under $15 million. According to Robert Donnelly, associate director, who brokered the sale with the Group's Executive Director Gary Gabriel, strong bidding interest in properties like 266 Harristown Road illustrates the potential of this market niche.

"Investors want these properties," he said.

"By offering institutional-quality underwriting, packaging and marketing for this underserved segment, we have been able to maximize pricing for owners of properties of this size."