CLIFTON, NJ—Holliday Fenoglio Fowler arranged a $23.35 million refinancing for Tulfra Real Estate's and The Hampshire Companies' jointly owned 204,000-square-foot industrial building at 65 South Industrial Street in Clifton, NJ.
The HFF team worked on behalf of the Tulfra/Hampshire partnership to place the 10-year, fixed-rate loan with Citizens Bank. Loan proceeds will be used to refinance the existing construction financing on the property.
The single-building industrial facility recently received a multimillion dollar renovation that included raising the roof to a 27-foot ceiling height, new exterior skin, addition of six new loading docks (for a total of 24), refinishing the warehouse floors, installing new lighting and sprinklers, adding new mechanical and electrical systems and fitting out 28,000 square feet of office space.
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