$11.3M refinancing arranged by HFF for Hackettstown Commerce Center in northern New Jersey

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged an $11.3 million refinancing for Hackettstown Commerce Center, a three-building, 200,860-square-foot industrial/flex facility in Hackettstown, New Jersey.

Working exclusively on behalf of the The Hampshire Companies, HFF senior managing director Jon Mikula (top right photo)  and associate director Michael Klein (top left photo)  placed the five-year, fixed-rate loan through M&T Bank. Loan proceeds are taking out mortgages on two of the properties and covering closing costs.

Hackettstown Commerce Park consists of three buildings plus one to-be-developed 5.13-acre parcel. Buildings 1, 2 and 3 are 79% occupied overall to eight tenants including Andrex Inc., Yamazaki Tableware, Inc., Ideal Industries and Computer Warehouse, Inc. The property is located at 101 Bilby Road between Interstate 80 and Route 46 in the Warren County industrial market in northern New Jersey.

The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. www.hampshireco.com.

Contacts:

Jon Mikula, HFF Senior Managing Director, (973) 549-2000, mikula@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF retained by Wells Fargo to market for sale Two Addison Circle in Addison, TX
 

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.)  has been retained by Wells Fargo & Company to market for sale Two Addison Circle, (middle right photo) a 198,000-square-foot Class A office building in Addison, Texas.

Two Addison Circle is located on the Dallas North Tollway at 15725 Dallas Parkway in the Far North Dallas submarket. The six-story property was completed in 2009 by Opus and is currently vacant.

According to HFF, “The property represents one of the highest-quality, large contiguous vacancies in the submarket and thus should be highly sought after by both users and investors looking to acquire a trophy office property at pricing levels well below replacement cost.”

Contacts:
Andrew S. Levy, HFF Senior Managing Director, (214) 265-08880, alevy@hfflp.com
Todd W. Savage, HFF Managing Director, (214) 265-0880, tsavage@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures $5.18M financing for historic office building in San Francisco’s north waterfront area

SAN FRANCISCO, CA – The San Francisco and Los Angeles offices of HFF (Holliday Fenoglio Fowler, L.P.)  have secured $5.18 million in financing for 1000 Sansome Street, a 61,680-square-foot historic office building in San Francisco, CA.

HFF managing director Peter Smyslowski (bottom left photo) (San Francisco) and senior managing director Paul Brindley (bottom right photo)  (Los Angeles) worked exclusively on behalf of ATC Partners, LLC, in arranging the five-year, fixed-rate loan through Wells Fargo Real Estate Group, Inc. The loan proceeds were used to retire a maturing CMBS loan.

1000 Sansome Street is located at the base of Coit Tower near Pier 39 in San Francisco’s north waterfront district.

Originally built in 1910, the four-story property was renovated in the early 1990’s however original features such as maple floors, exposed ceilings and brick walls were preserved. 1000 Sansome Street is 92% leased to a mix of engineering, technology and other professional service tenants.

ATC Partners has aggressively pursued multi-tenant office buildings throughout California and the Northwest, focusing on high-quality assets that cater to small businesses. ATC has purchased and renovated more than $600 million in industrial and office buildings over the past 10 years.

Contacts:

Peter Smyslowski, HFF Managing Director, (415) 276-6300, psmyslowski@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures $5.4M  financing for Grande Pointe Apartments in Jacksonville, FL

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.)  has secured $5.4 million in financing for Grande Pointe Apartments, a 244-unit multi-housing community in Jacksonville, Florida.

Working on behalf of Dawn Properties, Inc., HFF associate director Travis Anderson placed the two-year, adjustable-rate loan with Mutual of Omaha Bank.

Grande Pointe Apartments is located at 5800 University Boulevard West close to Interstate 95 and less than five miles from Jacksonville’s central business district. Originally built in 1972, the property was renovated in 2009 and is currently undergoing lease-up. The property has 23 buildings with one-, two- and three-bedroom layouts averaging 887 square feet each.

Dawn Properties, Inc. is involved in the acquisition, development, management, renovation and disposition of multi-housing properties. Since their inception in 1986, the company has bought and developed more than one billion dollars worth of property in 40 different markets in 13 different states.

Contacts:

Travis Anderson, HFF Associate Director, (214) 265-0880, tanderson@hfflp.com
 Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

 HFF arranges a joint venture and sale of beachfront hotel and residential redevelopment site in Ft. Lauderdale, FL

MIAMI, FL – The Miami office of HFF (Holliday Fenoglio Fowler, L.P.)  has closed a joint venture and sale of the former Ireland’s Inn beachfront redevelopment site in Ft. Lauderdale, Florida.

The HFF Miami team was led by executive managing director Manny de Zarraga (middle left photo)  and director Ike Ojala, (middle  right photo)  who marketed the redevelopment site on behalf of the original developer, a partnership between Fortune International, the Ireland family/Fairwinds Group pursuant to an agreement with the existing lender.

A new venture including Jorge Perez of The Related Group and a foreign investor purchased the site from the original partnership for $27.1 million. Fortune International, the Ireland family/Fairwinds Group retained a partnership interest in the new venture and will be involved in the eventual development of the site.

 Located at 2220 North Atlantic Boulevard, the 4.6-acre redevelopment site has direct beachfront access and is approximately four miles northeast of downtown Ft. Lauderdale. The site is entitled for the development of up to 622,178 square feet of buildable area with residential, hotel and/or retail uses.

“The combination of Jorge Perez, ( middle left photo)  the Ireland family and Fortune International brings together an exceptional development team with the vision, experience and commitment to bring a world-class project to Fort Lauderdale,” said de Zarraga.

Contacts:

Manuel A. de Zarraga, HFF Executive Managing Director, (305) 448-1333 mdezarraga@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500 krmurphy@hfflp.com


HFF arranges $11.25M in debt and equity for the acquisition and redevelopment of the former Saint Barnabas Union Hospital in Union, NJ

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged debt and equity financing totaling $11.25 million for the acquisition, redevelopment and repositioning of the former Saint Barnabas Union Hospital in Union, New Jersey that closed in 2007.

HFF managing director Tony Cuccia (bottom right photo)  and associate director Michael Lachs worked exclusively on behalf of Andrew J. Piscatelli of Hillcrest Development and Management Corporation to secure the adjustable-rate, first mortgage loan through Columbia Bank, and the private joint venture equity.

An affiliate of Mainardi Management Company was the investor providing the joint venture equity. Loan proceeds will be used to reposition the property into Union Medical Park, which will feature emergency medical services, general medical office and specialty medical space, including a private surgery center.

The medical facility was originally developed in 1962 as a small hospital, but over the years the property was upgraded and expanded. When the hospital was closed in 2007, it encompassed 141,526 square feet of rental space including a surgical unit, radiology unit, emergency room, patient rooms and general medical office.

Hillcrest Development and Management Company is a New Jersey-based developer and operator of commercial properties, specializing in the healthcare industry. In 2001, the company shifted its focus to the redevelopment and repositioning of shuttered hospital facilities and since that time they have acquired, repositioned and stabilized a portfolio of four former hospitals in New Jersey.

Contacts:

Anthony M. Cuccia, HFF Managing Director, (973) 549-2000, tcuccia@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com