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| Jon Mikula |
FLORHAM PARK, NJ – HFF announced it has secured a $15.5
million financing for the Business Centre at Edison, a 12-building
office park totaling 125,981 square feet in Edison, New Jersey, and 140 Ethel
Road West, a 108,875-square-foot industrial building in Piscataway, New Jersey.
Working on behalf the borrower, Denholtz Associates, HFF
placed the seven-year, fixed-rate loan with Investors Bank. Loan proceeds were used to retire existing
debt.
The
Business Centre at Edison is a Class B office park located on 13.66
heavily-landscaped acres at 1090 King Georges Post Road in Edison. It is approximately 25 miles southwest of
Manhattan, 50 miles north of Center City Philadelphia and 15 miles south of
Newark Liberty Airport. The 12
single-story buildings are currently 96.9 percent leased.
140
Ethel Road West is situated on 6.24 acres in Piscataway, a suburban community
off of Interstate 287 in central New Jersey.
It is less than five miles west of New Jersey Turnpike (Interstate 95)
and less than six miles southwest of the Garden State Parkway.
 |
| Michael KLein |
Manhattan is 35 miles away, and the property is 55 miles
north of Center City and 15 miles south of Newark Liberty Airport. This building is currently 90 percent
leased.
The
HFF debt placement team representing the borrower was led by senior managing
director Jon Mikula, director Michael Klein and associate
director Michael Lachs.
“Both
of these properties demonstrate Denholtz Associates’ expertise in owning and
managing mid-sized buildings that are well occupied by a diverse mix of small
tenants,” Klein said. “Investors Bank
easily recognized this strength, understood the individual markets and was able
to close flawlessly with a short time frame that accommodated the borrower’s
needs.”
Denholtz Associates is a privately-held development, investment and
management company active in office, industrial, flex and retail real estate.
Denholtz targets
value-added real estate, allowing its combined substantial in-house
capabilities and financial resources to capitalize on opportunities that exist
in the marketplace.
 |
| Business Centre at Edison, Piscataway, NJ |
Headquartered in
Matawan, New Jersey, Denholtz Associates has 100 employees and maintains
offices in Atlanta, Chicago and throughout Florida and New Jersey.
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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