5-29-20

www.marej.com

Filley, Heilig, Pace and Dale represent seller, 3700 Fettler Park LLC NorthMarq’s Ranieri arranges $16.5M refinance of Wallington Plaza in NJ

ISSUE HIGHLIGHTS Volume 32, Issue 10 May 29 - June 11, 2020

VP /manag - ing director o f No r t h - M a r q ’ s White Plains office secured the $16.5 mil- lion refinance of Wallington W

A L L I NG T ON , NJ — Ro b e r t Ranieri , senior

SPOTLIGHTS

INDUSTRIAL/ DISTRIBUTION CEN TERS

Section 5-20A

Robert Ranieri

RETAIL DEVELOP MENT REIMAGINED

Plaza. The 94,297 s/f grocery- anchored retail property is lo- cated on Paterson Ave. in Wall- ington. The permanent-floating rate loan was structured with a seven-year term on a 30-year amortization schedule. North - Marq arranged financing for the borrower through its rela - tionship with a local bank. “We were able to close the loan during the COVID-19 pandemic because the property is anchored by a ShopRite su - permarket which is considered

21-26A

UPCOMING CONFERENCES 6 th Annual NJ Industrial Development Conference September 2, 2020 6 th Annual Commercial Leadership Conference Honoring Women September 9, 2020 5 th Annual PA Healthcare & Medical Conference For speaking and sponsorship info., please contact: Lea at 781-740-2900 or lea@marejournal.com

Wallington Plaza

innovation is evident in our 60- year history, annual transac - tion volume of $13 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our more than 600 people. 

an essential business serving the needs of the neighboring communities,” said Ranieri. As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, invest -

ment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and

Anderson of Progress Capital facilitates $14.5 million construction loan for self-storage project

LYNDHURST, NJ — Kathy Anderson of Progress Capi- tal arranged a $14.5 Million

construction loan for Dino Tomassetti , m a n a g i n g membe r o f 1 Ho l l and , L L C . T h e property is located at 1

Kathy Anderson

Terminal Rd. in Lyndhurst, NJ and when completed, will

Directory ROP (Front Section) .................................... Section A Contributing Columnist .............. Paul G. W. Fetscher, CCIM CRX CLS, Great American Brokerage How to Deal with Landlords in the Age of Covid-19 .. 2A Industrial/Distribution Center .......................... 5-20A Retail Development Reimagined . ................... 21-26A People on the Move............................................ 29A Owners, Developers & Managers ............... Section B www.marej.com

Life Storage rendering

include 950 self-storage units that will be managed under the Life Storage banner. The bor- rower purchased the site with all entitlements in place and has retained ARCO Murray to deliver a turn-key building. Anderson arranged the loan with TriState Capital Bank , who provided a 36 month con- struction term to allow for completion and stabilization. The loan floats over LIBOR and has a permanent option,

is an excellent addition to our holdings based on the density and lack of storage options in the immediate surrounding area,” said Tomassetti. Tomasetti is the founder of Asset Realty & Construc- tion Group , a fully integrated development company that owns self-storage, multifam - ily, retail, office and indus - trial properties throughout the Tri-State area and North Carolina. 

giving the Borrower ultimate flexibility. Tomassetti and his partners founded Storage Fox, a self- storage company with over 5,200 units located in White Plains, Brooklyn, LIC and Yon - kers. The Storage Fox portfolio was purchased by Clutter, Inc. in September 2019 and the partners are now rebuilding their storage portfolio, having formed a management alliance with Life Storage. “Lyndhurst

Made with FlippingBook - professional solution for displaying marketing and sales documents online