NORTH BERGEN, NJ—Tonnelle Commons, a 410,015-square-foot, class A, fully leased retail power center in North Bergen, NJ, has a $100 million refinancing, arranged by Holliday Fenoglio Fowler.
HFF worked on behalf of the borrower, Urban Edge Properties, to secure the 10-year, non-recourse fixed-rate loan.
Completed in 2009, Tonnelle Commons is fully leased to 16 tenants and is anchored by Walmart, BJ's Wholesale Club, PetSmart and Staples. The property is situated on Tonnelle Avenue (Routes 1 and 9) less than 10 miles from Midtown Manhattan and four miles from the entrance to the New Jersey Turnpike. The center is located at the northern edge of Hudson County – the most densely populated county in New Jersey – and just one-half mile from Bergen County.
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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].
