The floating-rate loan was arranged by director Steven Klein and senior managing director Michael Tepedino of the New York City office of Holliday Fenoglio Fowler, representing the borrower. Further details of the package were not released.
Originally completed in 1991 and renovated in 2006 by previous owner Onyx, the seven-story class A asset is 77% leased, with availabilities ranging from less than 1,000 sf to 21,000 sf listed with an asking price of $27.50 per sf. Current tenants include Warner Chilcott, Reed Elsevier, Prudential Insurance, Hartford Insurance and Edy's Ice Cream.
"This location offers tenants a combination of corporate amenities and proximity to the population base," says Klein, who notes that the building is located between exits 34 and 35 of I-80.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
