Monday, May 22, 2017

HFF secures $100 million refinancing for retail power center in North Bergen, NJ

                         Tonnelle Commons, North Bergen, NJ              Photo by John Jenks                                                 

Mike Tepedino

NEW YORK, NY -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $100 million refinancing for Tonnelle Commons, a 410,015-square-foot, Class A, fully leased retail power center in the New York metropolitan area suburb of North Bergen, New Jersey.

HFF worked on behalf of the borrower, Urban Edge Properties, to secure the 10-year, non-recourse fixed-rate loan.

Completed in 2009, Tonnelle Commons is fully leased to 16 tenants and is anchored by Walmart, BJ’s Wholesale Club, PetSmart and Staples.  The property is situated on Tonnelle Avenue (Routes 1 and 9) less than 10 miles from Midtown Manhattan and four miles from the entrance to the New Jersey Turnpike.  The center is located at the northern edge of Hudson County – the most densely populated county in New Jersey – and just one-half mile from Bergen County.

The HFF debt placement team representing the borrower was led by managing director Scott Aiese and senior managing director Mike Tepedino.

“HFF used its long-standing lender relationships and proprietary software, to identify the optimal long-term fixed-rate lender for Urban Edge,” Aiese said.  “Furthermore, not all retail is created equally; Tonnelle Commons is a 100-percent-occupied, highly performing center due to its infill location and laser-focused management team.”

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617-848-1572 | cell 617-543-4873 |


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