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WAYNE, NJ–David Cronheim Mortgage’s Andrew Stewart has arranged permanent financing of $5,550,000 for 100 Demarest Dr., a 117,340-sf, one-story warehouse/office building 100% occupied by Zanders Inc. and Schindler Elevator Corp. The 10-year loan carries a 30-year amortization for the borrower, an unnamed entity affiliated with NJ-based developer and general contractor Jos. L. Muscarelle of Maywood, NJ.

Zander, Inc. is a subsidiary of International Paper and has occupied its space for the past 10 years. Schindler Elevator, one of the world’s largest elevator manufacturers with 40,000 employees around the globe, recently signed a long-term lease for its part of the building. 100 Demarest Dr. is located near the interchange of Route 23 and I-80.

The Cronheim organization, based in Chatham, NJ, has a servicing portfolio of approximately $900 million.

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