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| Tonnelle Commons, North Bergen, NJ Photo by John Jenks |
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| Mike Tepedino |
NEW YORK, NY -– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured a $100 million refinancing
for Tonnelle Commons, a
410,015-square-foot, Class A, fully leased retail power center in the New York
metropolitan area suburb of North Bergen, New Jersey.
HFF worked on behalf of
the borrower, Urban Edge Properties, to secure the 10-year, non-recourse
fixed-rate loan.
Completed in 2009,
Tonnelle Commons is fully leased to 16 tenants and is anchored by Walmart, BJ’s
Wholesale Club, PetSmart and Staples.
The property is situated on Tonnelle Avenue (Routes 1 and 9) less than
10 miles from Midtown Manhattan and four miles from the entrance to the New
Jersey Turnpike. The center is located
at the northern edge of Hudson County – the most densely populated county in
New Jersey – and just one-half mile from Bergen County.
The HFF debt placement
team representing the borrower was led by managing director Scott Aiese and senior managing
director Mike Tepedino.
“HFF used its
long-standing lender relationships and proprietary software, to identify the
optimal long-term fixed-rate lender for Urban Edge,” Aiese said. “Furthermore, not all retail is created
equally; Tonnelle Commons is a 100-percent-occupied, highly performing center
due to its infill location and laser-focused management team.”
For a complete copy of the company’s news release,
please contact:
Kristen Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
tel 617-848-1572 | cell
617-543-4873 | www.hfflp.com
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