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| Centra, 100 Wood Avenue South, Metropark section, Woodbridge, NJ |
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| Michael Klein |
FLORHAM
PARK, NJ – Holliday Fenoglio Fowler,
L.P. (HFF) announced it has secured an $18.5 million refinancing for Centra, a 110,700-square-foot, Class A
office building in the Metropark section of Woodbridge, New Jersey.
Working on
behalf of The Hampshire Companies, HFF placed the loan with M&T Bank to
take out the property’s construction loan, which HFF placed in November of 2010
for the redevelopment of the property.
Centra is located
at 100 Wood Avenue South close to the Metropark Train Station and directly
accessible from the Garden State Parkway Exits 131 and 132, which are located
just north of the confluence of the NJ Turnpike, Interstate 287, Route 440 and
Routes 1 & 9, and approximately 20
miles southwest of New York City.
Completed in
late 2011, the property is now 95 percent leased. Key tenants include JP Morgan Chase, MetLife,
Grant Thornton and Net App. The
four-story, LEED Platinum building features a conference center, fitness center
and café.
The HFF debt
placement team representing the borrower was led by director Michael Klein and senior managing
director Jon Mikula.
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| Jon Mikula |
“When we
began marketing the debt, the building was still in lease up at 66 percent occupancy,”
said Klein.
“That quickly changed as JP
Morgan Chase and MetLife executed leases taking the building’s occupancy to 95+
percent, further demonstrating the strength of this location and the quality of
the asset.”
“M&T
Bank was flexible throughout the process and flawlessly executed for the
borrower as the deal evolved,” added Mikula.
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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