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| Michael Klein |
The HFF team
worked on behalf of the borrower, The Donato Group, to secure the seven-year,
fixed-rate loan through First Bank.
4 Industrial Way West is located within the Eatontown Business
Park in Monmouth County, approximately three miles from the Garden State
Parkway, two miles from Route 18 and 10 miles from Route 195.
The area is also accessible from Route 35,
located one mile east of the property and is two miles south of its
intersection with Route 36.
Route 35 and Route 36 are the main commercially
developed arteries in the area and are improved with numerous national
retailers and eateries.
These two
highways provide access to New Jersey’s extensive highway network linking the
property to all of New Jersey and the East Coast cities of Philadelphia and New
York.
 |
| Terrance R. Howard |
Prominent
tenants include Wayside Technology Group, Inc.; Clinilabs Inc.; Polaris Alpha
and The Memory Enhancement Center of America.
The borrower,
who originally developed the property in 1988 and has owned and operated it
ever since, owns approximately 1.1 million square feet in the market, which
includes a mix of office, light industrial and medical buildings.
The HFF debt placement team representing the borrower included
managing director Michael Klein.
First Bank was represented by Terrance R. Howard, senior vice president – market executive in First Bank’s commercial lending group.
First Bank was represented by Terrance R. Howard, senior vice president – market executive in First Bank’s commercial lending group.
“HFF is pleased to have placed another loan on behalf of The
Donato Group within the Eatontown Business Park,” Klein said.
“Given the quality and high occupancy of the building and the borrower’s long-term experience in the market there was significant interest in the deal from local and regional banks.
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| 4 Industrial Way Office Complex, Eatontown, NJ |
“Given the quality and high occupancy of the building and the borrower’s long-term experience in the market there was significant interest in the deal from local and regional banks.
"First
Bank was a great fit for The Donato Group and performed flawlessly on its
execution of the closing.”
The Donato Group is a
70+ year old real estate development, management and construction firm based in
Eatontown, New Jersey.
The company was founded by the late John Donato Jr.
and is managed today by his son, Corbett Donato.
CONTACTS:
MICHAEL KLEIN
HFF Managing Director
(973) 549-2000
KRISTEN MURPHY
HFF Director, Public
Relations
(617) 338-0990
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