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| Franklin Square Shopping Center, on the border of Bloomfield, NJ and Belleville, NJ |
FLORHAM PARK, NJ – HFF announced today that it has secured
$5.8 million in financing for Franklin Square Shopping Center, a
51,911-square-foot community shopping center on the border of Bloomfield and
Belleville, New Jersey.
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| Michael Klein |
Working exclusively on behalf of The Hampshire Companies, HFF placed the
five-year, fixed-rate loan with a TriState Capital Bank. Loan proceeds were used to refinance existing
debt on the property.
Situated on 13.96 acres, the property is 100 percent leased to tenants
such as Marshalls, Dots, The Children’s Place, Sprint and JP Morgan Chase. The center is shadow-anchored by a Stop
& Shop grocery store and is located approximately 10 miles west of Midtown
Manhattan.
The
HFF team representing The Hampshire Companies was led by director Michael
Klein and senior managing director Jon Mikula.
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| Jon Mikula |
“The
borrower needed to close this loan within a short time frame,” said Klein. “TriState Capital stepped up with a very
competitive rate and structure and was able to close the loan within 30 days.”
The Hampshire Companies is a full-service, private real
estate firm based in Morristown, New Jersey. The Hampshire Companies is a
vibrant, dynamic organization that combines creative vision and superior
execution, thereby enabling it to create and enhance value in real estate
investments.
Additional information on The Hampshire Companies is
available online at http://www.hampshireco.com.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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