Holliday Fenoglio Fowler LP, the Texas-based commercial mortgage banking and investment sales firm arranged the floating-rate loan. Michael Tepedino and Elaine Philis of Holliday Fenoglio Fowler's New York City office and Jon Mikula of the firm's Edison, NJ office arranged the transaction.
The New Jersey Telecom Exchange is a three-story, class B office building being redeveloped as a telecommunications facility. For many years, the building served as the headquarters for the Krementz Jewelry Co. The building has proximity to fiber and has heavy floor load capacity, two of the characteristics telecommunication tenants tend to look for. JEMB recently signed McLeod USA Inc. to a 30,000-sf lease at the facility.
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