HFF secures $13.6 million refinancing for Claremont Corporate Center in Summit, NJ

 FLORHAM PARK, NJ – HFF announced today that it has secured a $13.6 million refinancing for Claremont Corporate Center (top left photo), a 41,982-square-foot, Class A office building in Summit, New Jersey.

HFF arranged the financing on behalf of Claremont Corporate Center LLC of Summit, New Jersey (www.claremontcorporate.com).  Cantor Commercial Real Estate provided the 10-year, fixed-rate loan.  Proceeds were used to refinance a construction/permanent loan previously arranged by HFF in 2008.

Claremont Corporate Center is located at 535 Springfield Avenue in downtown Summit about 22 miles west of Manhattan.  Completed in 2010, the center is 100 percent occupied by five tenants.  The building incorporates the more than 100-year-old Risk Mansion into its exterior and is within walking distance of a commuter train station to Manhattan and the surrounding areas.

The HFF team representing the borrower was led by senior managing director Jon Mikula (lower right photo).

Contacts:              

JON MIKULA                                                         

 HFF Senior Managing Director                           

 (973) 549-2000                                                       

 jmikula@hfflp.com                                                 

KRISTEN MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

Voit Real Estate Services Directs $24 Million Sale of Class A Inland Empire Office Property

INLAND EMPIRE, CA (April 24, 2012) –Voit Real Estate Services’ Irvine and Anaheim offices have successfully directed the $24 million sale of three office buildings encompassing 282,760 square feet in the Corona Summit Corporate Center (top left photo), on behalf of the seller. 

The property is comprised of three Class A, mixed-use office buildings, located at 2375, 2390 and 2455 Anselmo Drive in Corona, Calif.

John Griffin and John Harty of Voit’s Irvine office worked with Rob Socci and Peter Castleton of Voit’s Anaheim office to represent the seller, Corona Summit LLC, in the transaction. 

“This sale is representative of the ongoing strength of investor interest in the Inland Empire market,” said Griffin. “We knew that this vacant property presented an excellent value-add opportunity for investors, and we launched an extensive marketing campaign which resulted in more than 25 offers.

“ The competition amongst potential buyers allowed us to secure favorable terms for our client, while negotiating a deal that was beneficial to both parties.”

The buyer, Latham Management and Consulting, plans to occupy a portion of the property and lease out the renaming space.

The property is located adjacent to the 91 Freeway at McKinley Street in the City of Corona.

Contact:

Jenn Quader/ Judith Brower

Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

www.voitco.com.