FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a $6.6 million construction loan for the development of 855 Lehigh Avenue (middle left map), a 36,800-square-foot Class A office building in Union, New Jersey. HFF senior managing director Anthony Cuccia (top right photo) worked on behalf of the borrower, an affiliate of M&M Construction, to secure the 30-month, adjustable-rate loan through Columbia Bank.
Upon completion, 855 Lehigh Avenue will have two stories of Class A office space that is nearly 65% pre-leased to the United States Government’s General Services Administration and will also serve as the new headquarters of M & M Construction, a major general contracting firm in Union County.
The 1.9-acre site has a light
industrial building that will be demolished for construction of the new facility. The property’s location at 855 Lehigh Avenue is close to the Garden State Parkway and Interstate 78 approximately 12.5 miles west of Midtown Manhattan in Union, New Jersey.
industrial building that will be demolished for construction of the new facility. The property’s location at 855 Lehigh Avenue is close to the Garden State Parkway and Interstate 78 approximately 12.5 miles west of Midtown Manhattan in Union, New Jersey. “This project represents the best example of redevelopment through the re-use of a former abandoned industrial site into a new Class A office building,” said Cuccia.
CONTACTS:
Anthony M. Cuccia, HFF Senior Managing Director, 973 549 2000, tcuccia@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
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