Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FLORHAM PARK, NJ-The New Jersey office of Holliday Fenoglio Fowler, LP has arranged an $8 million refinancing for Pax River Office Park, a seven-building, 172,235-square-foot office park in Lexington Park, MD.

HFF senior managing director Jon Mikula and associate director Michael Klein worked exclusively on behalf of the Hampshire Cos. to secure the fixed-rate loan through Maryland Bank & Trust Company, NA. Loan proceeds will be used for capital and tenant improvements and leasing commissions.

Pax River Office Park has five low-rise office buildings and two flex buildings that are 97% leased to tenants including Naval Air Systems Command, Lockheed Martin, EMA, CACI and Serco. The property is located on Great Mills Road in Lexington Park, one mile from the Patuxent River NAS, which is home to three major Navy commands.

“Pax River Office Park’s proximity to the NAS provides it with a distinct competitive advantage as fierce competition for government contracts draws and retains tenants to the office park,” Mikula tells GlobeSt.com.

HFF’s Florham Park office also recently arranged a $2.1 million refinancing for a free-standing Duane Reade pharmacy in Yonkers, NY on behalf of the Hampshire Cos. Mikula and Klein placed the fixed-rate loan with Intervest National Bank.

The Duane Reade pharmacy is located at 180 McLean Ave., near the Saw Mill River Parkway and Route 9A. Completed in 2004, the property is 100% leased to Duane Reade with 12 years remaining on a 15-year lease.

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?



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 © 2022 ALM Global, LLC. All Rights Reserved.