FLORHAM PARK, NJ – HFF announced that it has arranged an $8.75 million financing for Bedminster II (top left photo), a two-building, 73,130-square-foot business park in Bedminster, New Jersey.
Working on behalf of Advance Realty, HFF placed the 10-year, fixed-rate loan with Nationwide Life Insurance Company. HFF will also service the loan.
Bedminster II is located at 1420 – 1430 US Highway 206 close to the Interstate 78 and 287 interchange in central New Jersey about 30 miles west of New York City.
Completed in 2000, 1420 US Highway 206 has 40,910 square feet and the 1430 building has 32,220 square feet including an on-site conference center and a gym. Overall, the properties are 97 percent leased to tenants including The Investment Center, Inc., Actel Corporation, Amarin Pharmaceuticals, UBS and QRX Pharma.
The HFF team representing Advance Realty was led by senior managing director Jon Mikula (middle right photo) and managing director Jim Cadranell (lower left photo).
Headquartered in Bedminster, New Jersey, Advance Realty is a privately-held real estate development, investment and management company. Since its inception in 1979, Advance Realty has acquired or developed more than seven million square feet of commercial, residential, mixed-use and industrial projects.
Contacts:
JON MIKULA
HFF Senior Managing Director
(973) 549-2000
JAMES CADRANELL
HFF Managing Director
(973) 549-2000
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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