MT. ARLINGTON, NJ-Mt. Arlington Development LLC has landed a $17.2-million refinance of the 130,447-sf 400 Valley Rd. in the Mount Arlington Corporate Center.
The Florham Park office of Holliday Fenoglio Fowler handled the refinance. HFF senior managing director Jon Mikula and managing director Jim Cadranell secured the 10-year, fixed-rate loan with John Hancock Financial Services. The loan will pay off the existing mortgage, cover closing costs and return capital to Mt. Arlington Development.
The three-story 400 Valley Rd. was built in 2001, and is 100% occupied by 13 tenants. Owner Mt. Arlington Development is a partnership between Charles Atkins, Robert Aktins, Jack Atkins and William Myrtle.
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