FLORHAM PARK, NJ – The New Jersey and New York offices of HFF (Holliday Fenoglio Fowler, L.P.) has secured $8 million in financing for 347 Mount Pleasant Avenue, (photo above) a 50,295-square-foot office building in West Orange, New Jersey.
Working on behalf of the borrower, HFF senior managing directors Thomas Didio (photo bottom right) and Evan Pariser (photo at right) (New York) and associate director Michael Klein (photo top left) placed the 10-year, fixed-rate loan with a regional bank. Proceeds will take-out floating-rate bridge financing secured by HFF when the borrower acquired the property from Organon USA, Inc. in the first quarter of 2007.
347 Mount Pleasant Avenue is close to Interstate 280 in West Orange, approximately 15 miles west of Manhattan. The property is nearly 100% leased to a mix of medical and professional service firms. Upon acquisition of the property, the borrower repositioned the building from a single tenant to multi-tenant asset with numerous improvements to the exterior and common areas.CONTACTS:
Laurie Fish McDowell
HFF Associate Director, Marketing
One Post Office Square, Suite 3500
HFF Associate Director, Marketing
One Post Office Square, Suite 3500
Boston, MA 02109
tel 617.338.0990
tel 617.338.0990
fax 617.338.2150
Thomas R. Didio
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