CBRE Capital Markets' Debt and Equity executive vice presidentJames Gunning and vice president Donna Falzarano arranged thefinancing on behalf of M. Alfieri Co. "CBRE was able to obtain veryattractive loan terms and simultaneously provide the lender with astrong banking relationship," Gunning says, adding that 379Thornall is part of the 3.6-million-square-foot Metropark officesubmarket of Central New Jersey.

Despite today's economic climate, the borrower had a very lowbasis in the property and was not trying to achieve maximumdollars, Gunning tells "The bank was also interestedin a long-term relationship with the owner."

This 331,053-square-foot building is easily accessible to theGarden State Parkway, the New Jersey Turnpike and Interstate 287,with service on New Jersey Transit and Amtrak. The property was 93%leased at the time of closing.

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