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FRANKLIN TWP., NJ-Joint venture partners Summit Associates and BlackRock Realty have picked up $9.2 million in financing for their 1600 Cottontail Lane, an 180,000-sf warehouse/flex building in this township’s Somerset section. Brokers from the Florham Park office of Holliday Fenoglio Fowler arranged the deal, with the 10-year, fixed-rate loan provided by an HFF correspondent lender.

The loan, which is being serviced by HFF, provides permanent, long-term financing for the property, according to HFF senior managing director Tony Cuccia. The Edison-based Summit and BlackRock had teamed up to buy the asset earlier this year from SK Realty & Development for $18 million, or $100 per sf, with Cuccia arranging the joint venture.

Built in 1990, 1600 Cottontail Lane is currently 100% occupied. Among the building’s tenants are the pharma marketing and logistics company Pharmagistics, industrial products manufacturer AdvanTech, the NanoOpto Corp. and VIA Data and Marketing.

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