(Mark your calendars for New Jersey Opportunities, part of the RealShareBreakfast Series, June 5 .)
FLORHAM PARK, NJ-HFF has arranged an $8.75 million financing for Bedminster II, a two-building, 73,130-square-foot business park in Bedminster owned by Advance Realty.
HFF placed the 10-year, fixed-rate loan with Nationwide Life Insurance Company. HFF will also service the loan.
Bedminster II is located at 1420 – 1430 US Highway 206, close to the I-78 and I-287 interchange in central New Jersey. The 12-year old complex houses 40,910 square feet at the 1420 building and 32,220 square feet at the 1430 address, including an on-site conference center and a gym.
The properties are 97% leased. Tenants at Bedminster II include The Investment Center, Inc., Actel Corp., Amarin Pharmaceuticals, UBS and QRX Pharma.
The HFF team representing Advance was led by senior managing director Jon Mikula and managing director Jim Cadranell.
Headquartered in Bedminster, Advance Realty has acquired or developed more than seven million square feet of commercial, residential, mixed-use and industrial projects.
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