HFF senior managing director Tom Didio worked on behalf of Mainardi to secure the 10-year, fixed-rate loan through John Hancock Life Insurance Co. John Hancock is an HFF correspondent lender.
Allaire Plaza is a two-building complex situated on a 12-acre site on Route 35 in Monmouth County. One building is a 49,540-sf asset fully occupied by a Pathmark supermarket, one of the complex's two anchor tenants.
The second anchor, Reynolds Department Store, occupies a 15,000-sf slot in Allaire Plaza's 64,470-sf strip building, which is currently 100% leased. Other tenants include Blockbuster Video, Dress Barn, Fashion Bug, Party City and Pearle Vision.
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