{"id":1004206755,"date":"2018-02-14T09:22:24","date_gmt":"2018-02-14T17:22:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004206755"},"modified":"2018-02-14T09:22:24","modified_gmt":"2018-02-14T17:22:24","slug":"provident-bank-secures-refi-for-nj-business-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/provident-bank-secures-refi-for-nj-business-park\/","title":{"rendered":"Provident Bank Secures Refi for NJ Business Park"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004206758\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Bridgewater-Business-Park.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004206758\" data-attachment-id=\"1004206758\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/provident-bank-secures-refi-for-nj-business-park\/bridgewater-business-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Bridgewater-Business-Park.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;6.3&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5D Mark III&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1444658688&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;500&quot;,&quot;shutter_speed&quot;:&quot;0.0008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Bridgewater Business Park, Bridgewater, N.J.\" data-image-description=\"&lt;p&gt;Bridgewater Business Park, Bridgewater, N.J.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Bridgewater Business Park, Bridgewater, N.J.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Bridgewater-Business-Park.jpg?w=800\" class=\"wp-image-1004206758 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Bridgewater-Business-Park.jpg\" alt=\"Bridgewater Business Park, Bridgewater, N.J.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Bridgewater-Business-Park.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Bridgewater-Business-Park.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Bridgewater-Business-Park.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004206758\" class=\"wp-caption-text\">Bridgewater Business Park, Bridgewater, N.J.<\/p><\/div>\n<p>Provident Bank has granted a five-year, $9.2 million loan to Denholtz Associates for the refinancing of 11 flex\/industrial buildings located within Bridgewater Business Park in Bridgewater and Bound Brook, N.J. The mortgage will cover capital improvements such as the replacement of parking areas and roofs, as well as fa\u00e7ade repairs to each building. The renovations are slated for completion this spring.<\/p>\n<p>\u201c<em>The refinancing will enable us to make long-term investments into this portfolio to position the asset for continued high occupancy well into the future,<\/em>\u201d Denholtz Associates President Stephen Cassidy, said in a prepared statement.<\/p>\n<p>Denholtz\u2019s assets spread across 264,163 square feet at 7W-10W Chimney Rock Road and 24E-30E Kearney St. The diverse roster of tenants includes baseball training center Zoned Inc., airsoft facility The Airsoft Factory, and stone fabricator and distributor Bridgewater Marble.<\/p>\n<p>The 16-building Bridgewater Business Park totals 380,000 square feet and is situated close to a highly transited area serviced by routes 22, 202 and 206, interstates 78 and 287, Garden State Parkway and New Jersey Turnpike. Bridgewater Commons Mall, restaurants, banks, hotels, conference centers and the upcoming Chimney Rock Shopping Center are all located nearby.<\/p>\n<p>Provident Bank CRE Relationship Manager III Paul Barrood secured the financing on behalf of Denholz, which recently obtained a loan for the acquisition of an\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/hff-arranges-financing-for-orlando-industrial-center\/\">industrial center in Orlando<\/a>, Fla.<\/p>\n<p><em>Image courtesy of Denholtz Associates<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Denholtz Associates plans to replace the parking areas and roofs, as well as repair the fa\u00e7ades of the 11 buildings it owns within the 16-asset Bridgewater Business Park.<\/p>\n","protected":false},"author":241,"featured_media":1004206758,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,1600,21742,10],"tags":[33675,39097],"class_list":["post-1004206755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-new-york","category-latest","category-northeast","tag-denholtz-associates","tag-the-provident-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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