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| 9-15 Riverside Drive, Pine Brook, NJ |
FLORHAM PARK, NJ – HFF announced today that it has secured
first mortgage financing for 9-11 Chapin Road and 9-15 Riverside
Drive, two industrial assets totaling 156,835 square feet in Pine Brook,
New Jersey.
Working exclusively on behalf of The Frassetto Companies, Inc., HFF
placed the 10-year, fixed-rate loan with a local community bank.
9-11
Chapin Road and 9-15 Riverside Drive are located off Route 46 near the
intersection of Interstates 80 and 287 in the northeastern portion of Morris
County, New Jersey. The properties are
fully leased to multiple tenants.
 |
| Michael Klein |
The
HFF team representing The Frassetto Companies, Inc. was led by director Michael
Klein and senior managing director Tom Didio.
“Local banks in the northern New Jersey market continue to be extremely
competitive on pricing, proceeds and structure for industrial transactions,”
said Klein. “In this instance the bank
stacked up quite favorably against life insurance companies and CMBS providers
and was awarded the deal accordingly.”
 |
| Thomas Didio |
The
Frassetto Companies, Inc. is a family-owned and operated full-service
commercial real estate firm that specializes in the acquisition, development
and management of commercial real estate properties.
The Bergen County, New Jersey-based company currently owns and
operates over two million square feet of commercial space throughout the New
Jersey/New York metropolitan region.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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