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WEST ORANGE, NJ-The Florham Park office of Holliday Fenoglio Fowler L.P. has arranged a $9.1 million construction loan for 375 Mt. Pleasant Ave., a medical office condominium building currently under construction here. HFF senior managing director Jon Mikula and associate director Michael Klein worked exclusively on behalf of the Hampshire Cos. to secure the 24-month, adjustable-rate loan through Valley National Bank. The loan has two, one-year extension options.

The property’s first tenant, New Jersey Cardiology Associates, has taken occupancy in a 22,524-square-foot space in the first phase of the building. Shortly thereafter, the Urology Group of New Jersey signed a 12-year, 13,776-square-foot lease at the property. The building owner is currently redeveloping the 11-acre, former Organon headquarters campus into a 106,000-square-foot medical office facility due for completion by year’s end.

“Upon completion, the property will feature modern design and amenities such as garage parking for doctors and senior staff; an added convenience for both patients and employees,” Mikula tells GlobeSt.com. “In addition, the building is zoned [as a] hospital, which makes the subject a fit for all medical uses.” Since 2001, HFF has arranged more than $375 million in financing for The Hampshire Co.

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