Donato Group Acquires Eatontown Industrial Flex Building

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34-38 Industrial Way East, Eatontown, NJ

EATONTOWN, NJ— The Donato Group, a real estate development, management and construction firm,  is acquiring 34-38 Industrial Way East , a 106,918-square-foot industrial flex facility in the southern Monmouth County, NJ, community of Eatontown, where Donato is already headquartered. Holliday Fenoglio Fowler arranged $6.7 million in acquisition financing for the borrower, and placed the five-year, floating-rate loan with Lakeland Bank . The HFF debt placement team representing the borrower was led by director Michael Klein . “ The Donato Group had a unique opportunity to acquire an industrial flex building within the Eatontown market, where it controls a significant amount – approximately 980,000 square feet – of space and is the premier landlord in the market,” says Klein . “ Lakeland Bank understood The Donato Group’s dominant market position and the market demand for flex space.  The lender quickly jumped at the opportunity to work with the borrower to acquire the property and make improvements to the building’s facades that will help attract new tenants, retain existing ones and quickly bring the building more in line with the market’s high 90s occupancy.” 34-38 Industrial Way East is a two-building facility with 14 individual flex units ranging in size from 3,000 to 17,000 square feet.  The facility features 22′ ceiling heights with an average column spacing of 25′ x 40′ and 308 parking spaces (2.88/1,000 square feet).  The 83.6-percent-occupied buildings are home to Paw BioScience; Hanro of Switzerland; Augustine Consulting, Inc.; Alkaline Corp; KruseCom; and Meridian Health .  Situated on 8.905 acres, the property is located within the 95-percent-occupied Eastern Monmouth Industrial submarket approximately three miles from the Garden State Parkway.  The Donato Group’s offices are located less than one mile away from the property.