HFF arranges $8M refinancing for Pax River Office Park in Lexington Park, MD

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged an $8 million refinancing for Pax River Office Park, a seven-building, 172,235-square-foot office park in Lexington Park, Maryland.

HFF senior managing director Jon Mikula (top right photo) and associate director Michael Klein (middle left photo)  worked exclusively on behalf of The Hampshire Companies to secure the fixed-rate loan through Maryland Bank & Trust Company, NA. Loan proceeds will be used for capital and tenant improvements and leasing commissions.

Pax River Office Park has five low-rise office buildings and two flex buildings that are 97% leased to tenants including Naval Air Systems Command (NAS), Lockheed Martin, EMA, CACI and Serco.

The property is located on Great Mills Road in Lexington Park, one mile from the Patuxent River Naval Air Station (NAS), which is home to three major Navy commands.

“Pax River Office Park’s proximity to the NAS provides it with a distinct competitive advantage as fierce competition for government contracts draws and retains tenants to the office park,” said Mikula.

The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2 billion, targets the development or purchase, and operation of investment-grade neighborhood supermarket-anchored centers, single-tenant retail facilities, warehouse/distribution facilities, office buildings and self storage facilities located in the Mid-Atlantic and Northeast regions of the United States. The company currently operates a diversified national portfolio of properties totaling more than 20 million square feet with $1 billion of equity under management.

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