SECAUCUS--CB Richard Ellis' Capital Markets Debt & Equity group recently refinanced a $19 million mortgage loan secured by a first lien on a 197,453-sf office/warehouse located at 40 Hartz Way in Secaucus.
James Gunning and Donna Falzarano secured financing for the borrower, Hartz Mountain Associates; a New England-based commercial bank funded the 5 year fixed-rate loan.
Originally built in 1973 with 24 foot ceilings, the building has undergone significant upgrades and has substantial tenant fit-out, including two state-of-the-art studios, 18 loading docks and high-tech broadcasting satellites. MLB has a long-term lease and occupies 142,000 sf of space, which consists of studio and production areas.
CB Richard Ellis
www.cbre.com
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