CARTERET, NJ-The Hampshire Cos. has landed a $28-million refinancing for 200 Milik St., a 232,134-square-foot warehouse/distribution center in the heart of Carteret's industrial hub. Working on behalf of Hampshire, HFF placed the five-year, fixed-rate loan with TD Bank.
Redeveloped by Hampshire Cos. in 2012 from what was formerly the corporate headquarters of supermarket chain Pathmark, 200 Milik St. is 100% leased. The LEED certified building is located 1.7 miles from the New Jersey Turnpike's Exit 12 interchange and less than 10 miles from Newark Liberty International Airport. It features 36-foot clear ceiling heights, 25 truck loading docks, seven drive-in docks and parking for up to 42 truck trailers.
The HFF team representing Hampshire was led by senior managing director Jon Mikula and director Michael Klein. “Given the building's new construction, state-of-the-art features, proximity to the port and airport, and the credit tenancy, there was no shortage of lenders interested in making this loan,” says Klein. “TD Bank delivered an aggressive interest rate and structure that best met the borrower's needs and was able to close smoothly and quickly.” HFF had arranged the $6-million sale of 200 Milik to Hampshire in 2011.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.