Eisenhower Corporate Campus, a 384,828-square-foot, class A office building located at 290 West Mount Pleasant Ave. in Livingston.
HFF senior managing director Jon Mikula and managing director Jim Cadranell worked exclusively on behalf of Eastman Cos. and the Sagner Cos. to secure a $44.7-million, adjustable-rate loan through Wells Fargo Bank and TD BankNorth. Fidelity Real Estate Group provided $20.08 million in joint venture equity. Proceeds are being used for the redevelopment of the office building.
Eisenhower Corporate Campus has four interconnected buildings surrounding a four-story atrium lobby. Amenities at the complex include a full-service cafeteria with seating, a 200-person stadium-style seating auditorium, a fitness center and executive conference center. Situated on a 33.6-acre campus, the property is located at the intersection of Route 10 and Eisenhower Parkway close to Interstates 280 and 287.
"Eisenhower Corporate Campus has been a single tenant facility since its completion in 1984," says Mikula. "This financing will enable Eastman Management to transform the building into a premier multi-tenant property."
Late last month, HFF's Florham Park office also secured $43 million in financing for Hollymead Town Center in Charlottesville, VA; Signal Hill Shopping Center in Manassas, VA; and John's Creek Center in Jacksonville, FL.
Working exclusively on behalf of Columbia Regency Partners II, a joint venture between Regency Centers and the Oregon Public Employees Retirement Fund, HFF managing director Jim Cadranell placed the seven-year, fixed-rate loan with New York State Teachers Retirement System. Loan proceeds were used to pay off short-term acquisition financing placed on the properties in September 2008.
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