WARREN, NJ- LJ Melody & Co., the Saddle Brook, NJ-based real estate banking arm of CB Richard Ellis, arranged $5.9 million in permanent financing for Watchung Hills Office Center, a newly constructed building on 7.5 acres near I-78 here. The property is a 39,341-sf, three-building colonial-style development.

Artesia Mortgage Capital provided the funding on behalf of the owner of the building, Stirling Square LLC, a local partnership. James Gunning, a senior director in LJ Melody’s New Jersey office, arranged the transaction. Details of the financing were not disclosed.

Watchung Hills Office Center is 100% occupied by professional tenants, including the headquarters of the Horizon Group. Other tenants include the Learning Experience, an 11,000-sf childcare center and two medical users.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

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 © 2024 ALM Global, LLC. All Rights Reserved.