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$19.4M Acquisition Financing Set for Two Buildings

LEBANON, NJ-The two assets, which are being acquired by Illva Saronno Corp. from a partnership of UBS PaineWebber, Morgan Stanley and Gale, total just under 93,000 sf.

By Eric Peterson | Updated on November 20, 2002

LEBANON, NJ-The Edison, NJ office of Holliday Fenoglio Fowler has arranged acquisition financing of $19.36 million, provided by CIBC Worldwide, for Illva Saronno Corp. for the purchase of 100 and 200 Corporate Drive here. The two class A assets, located within 78 Corporate Center, are being acquired from a partnership of UBS PaineWebber, Morgan Stanley and The Gale Co. No further details of the sale transaction were released.

HFF senior director Jon Mikula arranged the financing for 100 and 200 Corporate Drive, which total 92,925 sf and were completed in 1989 and 1991 respectively. The 200 building is fully leased to pharma giant Merck & Co.; the 100 building is more than 80% leased, with The BOC Group, a UK-based provider of industrial gas products and services, as the lead tenant.

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