{"id":1004200817,"date":"2017-12-15T07:33:10","date_gmt":"2017-12-15T15:33:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004200817"},"modified":"2018-08-08T10:01:43","modified_gmt":"2018-08-08T18:01:43","slug":"nj-office-building-receives-26m-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nj-office-building-receives-26m-financing\/","title":{"rendered":"NJ Office Building Receives $26M Financing"},"content":{"rendered":"

By Corina Stef<\/p>\n

\"300<\/a>

300 Tice Blvd., Woodcliff Lake, N.J.<\/p><\/div>\n

Hudson Equities Management has closed a $26.2 million loan for a 240,291-square-foot office building in Woodcliff Lake, N.J.\u00a0A Cushman & Wakefield Equity, Debt and Structured Finance team comprising Executive Director John Alascio, Director Sridhar Vankayala\u00a0and\u00a0Andre Hass arranged the four-year, floating-rate financing, provided by Streamline Realty Funding.<\/p>\n

The asset, located at 300 Tice Blvd., was completed in 1989 and features a three-story glass atrium, a caf\u00e9 with indoor and outdoor dining, locker rooms, a reflecting pond and extensive landscaping, as well as an underground garage with elevator access to the building.<\/p>\n

Planned renovations<\/h2>\n

The owner plans to launch a multimillion-dollar capital improvement program for the property, which will result in improvements to the exterior landscape, interior common areas, bathrooms, elevator cabs and amenities. Hudson Equities will also upgrade the building\u2019s fitness center, create a conference center and install collaborative seating areas both inside and outside of the facility.<\/p>\n

The property is 78.5 percent occupied by a diverse roster of tenants from the auto, pharmaceutical and financial services industry. Additionally, the building is close to major roads such as the Garden State Parkway, interstates 80 and 287 and the New Jersey Turnpike.<\/p>\n

\u201cThe property represents a premier Class A office building in an affluent Bergen County market with great upside for Hudson Equities,<\/em>\u201d Alascio said in a prepared statement.\u00a0<\/p>\n

According to public records, Hudson Equities purchased the property from Mack-Cali Realty, which\u00a0is currently disposing of its Bergen County portfolio<\/a>.<\/p>\n

Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Cushman & Wakefield arranged the loan for Hudson Equities Management\u2019s recent acquisition of an office building in Woodcliff Lake, N.J. The asset is set to undergo multimillion-dollar renovations.<\/p>\n","protected":false},"author":241,"featured_media":1004200823,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10,21747],"tags":[32799,38615,33554],"class_list":["post-1004200817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-office","tag-cushman-wakefield","tag-hudson-equities-management","tag-mack-cali-realty-corporation"],"acf":[],"yoast_head":"\nNJ Office Building Receives $26M Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nj-office-building-receives-26m-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NJ Office Building Receives $26M Financing\" \/>\n<meta property=\"og:description\" content=\"Cushman & Wakefield arranged the loan for Hudson Equities Management\u2019s recent acquisition of an office building in Woodcliff Lake, N.J. 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