JLL Capital Markets arranges a $9 million loan for the well-maintained Meridian Center II, a Class A, 80,188-SF office building in Eatontown, Monmouth County, NJ

 Meridian Center II -- the 80,188-square-foot building
sits on 4.6 acres and is currently 92% occupied 

 

MORRISTOWN, NJ – JLL Capital Markets announced  it arranged a $9 million refinancing for Meridian Center II, a Class A office building in Eatontown, New Jersey.

Michael Klein

 JLL worked on behalf of the borrower, The Donato Group, to secure the loan through TIAA Bank.

The 80,188-square-foot building, known as Meridian Center II, sits on 4.6 acres and is currently 92% occupied. 

Tenants include a mix of technology, defense and healthcare-related businesses such as Hackensack Meridian Health, Wayside Technology Group and Altair Health. 

Originally constructed in 1988, The Donato Group has made significant improvements to the property over the last three years, including refreshes to the lobby, hallways and restroom areas.

Located at 4 Industrial Way West, the Meridian Center II is positioned within the Eatontown Business Park, which totals 2.3 million square feet of prime office, medical and industrial space, and is easily accessible via NJ State Route 35 and Hope Rd. 

The property is also in close proximity to State Route 36, Route 18 and the Garden State Parkway.

 

Max Custer 

Situated in Monmouth County, the fifth most populous county in New Jersey, the area is home to over 636,000 residents and serves as a bedroom community for many small and mid-size businesses that operate out of the Eatontown Business Park. 

The area is also just 40 miles from New York City and 60 miles from Philadelphia.

 The JLL Capital Markets team representing the seller was led by Senior Managing Director Michael Klein, Director Max Custer and Analyst Gerard Quinn.

 “We are grateful for the opportunity to represent The Donato Group once again,” said Klein. “TIAA provided the borrower with very attractive deal terms and a highly competitive rate.” 

About Donato Group

John Donato Jr.

The Donato Group is a real estate development, management, and construction firm based in Eatontown, New Jersey, with more than 60 years of experience in the business. 

Since their inception in the 1950s, The Donato Group has grown into one of the leading commercial real estate companies in the State. 

The Donato Group was founded as a general contractor and later added a variety of commercial development services. 

The Company is an experienced developer and manager of office and industrial properties. 

The company’s focus is on the Monmouth County market, with a significant concentration in Eatontown, where the Company developed many of the properties in their portfolio. 

The Company was founded by the late John Donato Jr. and is managed today by his son, Corbett Donato. The Donato Group currently has a portfolio of approximately 1.2 million square feet, primarily located in eastern Monmouth County.

 

CONTACT:

Kristen Murphy

 JLL Senior Manager, PR

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com