HFF secures $2.1M refinancing for Duane Reade Pharmacy in Yonkers, NY

 

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $2.1 million refinancing for a free-standing Duane Reade pharmacy  (top left photo) in Yonkers, New York.

Working exclusively on behalf of The Hampshire Companies, HFF senior managing director Jon Mikula and associate director Michael Klein placed the fixed-rate loan with Intervest National Bank.

The Duane Reade pharmacy is located at 180 McLean Avenue close to the Saw Mill River Parkway and Route 9A in Yonkers, directly north of New York City. Completed in 2004, the property is 100% leased to Duane Reade with 12 years remaining on a 15-year lease.

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, mikula@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

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

HFF closes sale of west Houston office building

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of 10411 Westheimer, (top left photo) a 30,000-square-foot office building in Houston, Texas.

HFF senior managing director Dan Miller (bottom right photo) and analyst Trent Agnew led the investment sales team on behalf of the seller, Brookfield Real Estate Opportunity Fund, which is sponsored by Brookfield Asset Management.

Pacific Sun Investments, LP, a Houston-based company led by Amir Taghdisi (middle left  photo)  and Alan Taghdisi, purchased the property for an undisclosed amount free and clear of debt.

10411 Westheimer is situated on 3.7 acres in the Westchase District of west Houston, convenient to and visible from Beltway 8. The property is fully occupied with JPMorgan Chase leasing 50% of the building under a long-term lease.

“The combination of JPMorgan Chase credit, a Westheimer address with Beltway frontage, and redevelopment potential made this a highly sought after property for private buyers, generating approximately 20 offers,” said Miller.

Brookfield Real Estate Opportunity Fund invests in underperforming and distressed real estate in the US and Canada, and has acquired nearly $2 billion worth of assets since 2004.

Brookfield Asset Management Inc. is a global asset manager focused on property, renewable power and infrastructure assets with over $80 billion of assets under management.

The company’s shares are listed on the New York and Toronto stock exchanges under the symbols BAM and BAM.A, respectively, and on Euronext under the symbol BAMA. For more information, please visit Brookfield’s website at www.brookfield.com.

Contacts:
H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500, dmiller@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com