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| 34--38 Industrial Way East, Southern Monmouth County, Eatontown, NJ |
FLORHAM PARK, NJ ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $6.7 million in
acquisition financing for 34-38
Industrial Way East, a 106,918-square-foot industrial flex facility in the
southern Monmouth County, New Jersey community of Eatontown.
HFF worked on behalf of
the borrower, The Donato Group, to place the five-year, floating-rate loan with
Lakeland Bank.
34-38 Industrial Way East
is a two-building facility with 14 individual flex units ranging in size from
3,000 to 17,000 square feet. The
facility features 22’ ceiling heights with an average column spacing of 25’ x 40’
and 308 parking spaces (2.88/1,000 square feet).
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| Michael Klein |
The 83.6-percent-occupied
buildings are home to Paw BioScience; Hanro of Switzerland; Augustine
Consulting, Inc.; Alkaline Corp; KruseCom; and Meridian Health.
Situated on 8.905 acres,
the property is located within the 95-percent-occupied Eastern Monmouth
Industrial submarket approximately three miles from the Garden State
Parkway. The Donato Group’s offices are
located less than one mile away from the property.
The HFF debt placement
team representing the borrower was led by director Michael Klein.
“The Donato Group had a
unique opportunity to acquire an industrial flex building within the Eatontown
market, where it controls a significant amount – approximately 980,000 square
feet – of space and is the premier landlord in the market,” Klein said.
“Lakeland Bank understood
The Donato Group’s dominant market position and the market demand for flex
space. The lender quickly jumped at the
opportunity to work with the borrower to acquire the property and make
improvements to the building’s facades that will help attract new tenants,
retain existing ones and quickly bring the building more in line with the
market’s high 90’s occupancy.”
For a complete copy of the company’s
news release, please contact:
Kristen M. Murphy
Director, Marketing
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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