Thursday, February 6, 2014

HFF arranges $5.1 million financing for retail center in Secaucus, NJ

Mill Creek Annex, 200 Mill Creek Drive
at the Route 3 West/New Jersey Turnpike interchange, Secaucus, NJ

Jim Cadranell
FLORHAM PARK, NJ – HFF announced today that it has arranged $5.1 million in acquisition financing for the Mill Creek Annex, a 25,108-square-foot retail center in Secaucus, New Jersey.

HFF worked exclusively on behalf of the borrower to secure the seven-year, fixed-rate loan through Investors Bank. 

The center is part of the Harmon Meadow development, a 200-acre master-planned development just west of Manhattan that consists of four million square feet of retail, office, hotel, entertainment and convention space in New Jersey’s Meadowlands submarket. 

Originally developed by Hartz Mountain in 1983, the center is 94 percent leased to tenants such as Bonefish Grill, Verizon Wireless, Panera Bread and Subway. 

The property is located at 200 Mill Creek Drive at the Route 3 West/New Jersey Turnpike interchange and features direct commuter bus service to and from Manhattan, as well as shuttle service to the Secaucus Junction train station.

Jon Mikula
The HFF team representing the borrower was led by managing director Jim Cadranell, senior managing director Jon Mikula and associate director Samuel Seiden.

Investors Bank is a full-service community bank that has been serving customers since 1926.  With more than $15.6 billion in assets and a network of over 125 branches across New Jersey and New York, the bank serves a wide range of consumer, business, commercial real estate, nonprofit and local government customers.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

No comments: