X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WAYNE, NJ-Financing in the amount of $12.1 million has been arranged for Wayne Interchange Plaza, an office complex consisting of two four-story buildings totaling just under 172,000 sf of rentable space. The funding will be used for acquisition and the subsequent repositioning of the property.

The David Cronheim Mortgage Corp. of Chatham, NJ arranged the financial package; the buyer, seller and source of the funding has not been disclosed. Cronheim has correspondent relationships with 10 life insurance companies and three investment banks. The two-year interest-only loan has a one-year extension option to be amortized over a 25-year period.

The property lies across heavily-traveled Route 46 from Willowbrook Mall, one of the largest retail properties in New Jersey. The Route 46/23 corridor consists of extensive retail, office and other commercial uses.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.