SUMMIT, NJ –A $13.6 million mortgage financing for Claremont Corporate Center in Summit has been arranged by HFF of Florham Park. The 41,982-square-foot, Class A office building in Summit was built in 2008, incorporating a historic mansion into its exterior, lobby and central office space.
HFF arranged a new 10-year, fixed-rate loan through Cantor Commercial Real Estate to refinance a construction/permanent loan that HFF had arranged in 2008.
The corporate center was built around three sides of the turn-of-the-century Risk mansion. The original stone building became lobby and center office space. Work on the glass-paneled additional space was completed in 2010, and the structure is now fully occupied by five tenants.
Claremont Corporate Center is located at 535 Springfield Avenue in downtown Summit, about 22 miles west of Manhattan. It is within walking distance of a commuter train station to Manhattan and the surrounding areas.
The HFF team representing the borrower was led by senior managing director Jon Mikula. HFF’s office in Florham Park is one of 21 nationwide providing commercial real estate and capital markets services.
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