A New Jersey-based investor, not named, acquired and began developing the property three years ago, and is the recipient of the loan. The transaction was arranged on behalf of the owner by Jon Mikula of HFF's Edison office and Mike Tepedino of the New York City office.
The Schultz Organization, based in Woodbridge, NJ, is managing and leasing the property; the J.G. Petrucci Co. of Hunterdon County, NJ is the general contractor for the latest phase. Construction is currently underway and occupancy is slated for this fall.
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