FLORHAM PARK, NJ – HFF announced today that it has arranged a $21 million refinancing for Florham Park Plaza (top left photo), a 64,587-square-foot retail center in Florham Park, New Jersey.
HFF worked exclusively on behalf of The Klein Group to secure the 10-year fixed-rate loan through Nationwide Life Insurance Company. The loan will be serviced by HFF and is replacing an existing first mortgage loan on the property, which was also arranged by HFF.
Originally built in 1977, Florham Park Plaza was recently renovated and expanded to include new tenants Trader Joe’s and Walgreen’s.
Other tenants at the 96.6 percent leased center include McDonald’s, Dunkin Donuts, Sprint, Red Mango, Citibank, Dress Barn and Qdoba. The property is situated on 6.55 acres at 176 Columbia Turnpike at the intersection of Columbia Turnpike and James Street in Florham Park’s downtown retail district.
The HFF team representing The Klein Group was led by senior managing director Jon Mikula (middle right photo) and managing director Jim Cadranell (bottom left photo)
The Klein Group is a New Jersey-based real estate investment firm headed by Jacob Klein. The firm manages 16 properties, including Warren Village Shopping Center, Eagle Rock Commons and the Fidelity & Stew Leonard Center in Paramus, New Jersey
Contacts:
Jon Mikula, HFF Senior Managing Director, (973) 549-2000, jmikula@hfflp.com
Jim Cadranell, HFF Managing Director, (713) 852-3500, jcadranell@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (973) 549-2000,
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