For example, the 36,700-sf class A office building at 855 LehighAve. is on target because it's already two-thirds preleased. Beingdeveloped by an affiliate of the locally based M&MConstruction, it will house offices of the US General ServicesAdministration. M&M also plans to relocate its headquarters tothe new building.
M&M has picked up a $6.6-million construction loan brokeredby Anthony Cuccia of Holliday Fenoglio Fowler LP's Florham Parkoffice. The 30-month, adjustable-rate package came from ColumbiaBank.
The two-acre site contains a light industrial building that willbe razed to make room for the new building. "This projectrepresents a good example of redevelopment through the reuse of anabandoned industrial site," Cuccia says.
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