SECAUCUS, NJ—Hartz Mountain Industries has refinanced a 13-building, 2.67 million square foot industrial portfolio in North New Jersey. Holliday Fenoglio Fowler arranged the $162 million, 10-year, fixed-rate loan through Hartford Investment Management Company. HFF is servicing the loan.
The 98-percent-leased buildings are in Secaucus, Whippany, East Hanover, Bayonne, Hasbrouck Heights, Harrison and North Bergen, but HFF and Hartz Mountain declined to provide specific addresses.
The portfolio also includes one industrial spec building currently being constructed in Linden. About six percent of the square footage is devoted to office space.
HFF senior managing director Thomas Didio and real estate analyst Connor Milanaik led the debt placement team representing the borrower.
“Hartford Investment Management Company was able to meet the borrower's required timeline to close the financing, which was very aggressive, and the lender was able to save the borrower significant prepayment costs,” Didio says.
SECAUCUS, NJ—Hartz Mountain Industries has refinanced a 13-building, 2.67 million square foot industrial portfolio in North New Jersey. Holliday Fenoglio Fowler arranged the $162 million, 10-year, fixed-rate loan through Hartford Investment Management Company. HFF is servicing the loan.
The 98-percent-leased buildings are in Secaucus, Whippany, East Hanover, Bayonne, Hasbrouck Heights, Harrison and North Bergen, but HFF and Hartz Mountain declined to provide specific addresses.
The portfolio also includes one industrial spec building currently being constructed in Linden. About six percent of the square footage is devoted to office space.
HFF senior managing director Thomas Didio and real estate analyst Connor Milanaik led the debt placement team representing the borrower.
“Hartford Investment Management Company was able to meet the borrower's required timeline to close the financing, which was very aggressive, and the lender was able to save the borrower significant prepayment costs,” Didio says.
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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].
