FLORHAM PARK, NJ – HFF has secured a $10.5 million refinancing for 180-188 Mt. Airy Road, a two-building office property totaling 104,202 square feet in Basking Ridge, New Jersey.
Working on behalf of Lincoln Property Company, HFF placed the five-year, floating-rate loan with OceanFirst Bank. Loan proceeds will be used to retire existing debt and return equity to the partnership.
180-188 Mt. Airy Road is 54 miles outside of New York City in an area known as New Jersey's “Wealth Belt” along Interstate 78. Situated on 14.4 acres, the two two-story, multi-tenant office buildings contain more than 104K SF of rentable space. 180 Mt. Airy Road was renovated in 2004, and 188 Mt. Airy Road was renovated in 2007. The properties are 95 percent leased, and major tenants include Montgomery Academy, The Learning Experience, Integrated Device Technology and Mt. Airy Associates.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
