Monday, May 23, 2016

HFF arranges $6.7 million acquisition financing for industrial building in Monmouth County, NJ

34--38 Industrial Way East, Southern Monmouth County, Eatontown, NJ

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $6.7 million in acquisition financing for 34-38 Industrial Way East, a 106,918-square-foot industrial flex facility in the southern Monmouth County, New Jersey community of Eatontown. 

HFF worked on behalf of the borrower, The Donato Group, to place the five-year, floating-rate loan with Lakeland Bank.

34-38 Industrial Way East is a two-building facility with 14 individual flex units ranging in size from 3,000 to 17,000 square feet.  The facility features 22’ ceiling heights with an average column spacing of 25’ x 40’ and 308 parking spaces (2.88/1,000 square feet). 

Michael Klein
The 83.6-percent-occupied buildings are home to Paw BioScience; Hanro of Switzerland; Augustine Consulting, Inc.; Alkaline Corp; KruseCom; and Meridian Health. 

Situated on 8.905 acres, the property is located within the 95-percent-occupied Eastern Monmouth Industrial submarket approximately three miles from the Garden State Parkway.  The Donato Group’s offices are located less than one mile away from the property.

The HFF debt placement team representing the borrower was led by director Michael Klein.

“The Donato Group had a unique opportunity to acquire an industrial flex building within the Eatontown market, where it controls a significant amount – approximately 980,000 square feet – of space and is the premier landlord in the market,” Klein said. 

“Lakeland Bank understood The Donato Group’s dominant market position and the market demand for flex space.  The lender quickly jumped at the opportunity to work with the borrower to acquire the property and make improvements to the building’s facades that will help attract new tenants, retain existing ones and quickly bring the building more in line with the market’s high 90’s occupancy.”

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

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

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