Real Estate Journal — Financial Digest — May 13 - 26, 2016 — 7A
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M id A tlantic
F inancial D igest
410 Commerce Blvd. was constructed by Russo Development CBRE’S NJ Capital Markets Debt & Structured Finance Team arranges a $20m refinancing
C ARLSTADT, NJ — CBRE Group Inc. an- nounced that its New Jersey Capital Markets Debt & Structured Finance team has arranged a $20 million refinancing on behalf of Russo Development . The financing was secured by 410 Com- merce Blvd. in Carlstadt, New Jersey, a 280,600 s/f office/ warehouse/data center fully leased to Coach Inc., Digital Realty Trust and SunGard Availability Services. After marketing and a com- petitive bid process, the CBRE team of James Gunning , Donna Falzarano and Ste- phen Joseph placed the seven-year non-recourse loan with a regional bank at a com- petitive interest rate. Columbus joinsThe Rockefeller Group MORRISTOWN, NJ —The Rockefeller Group announced that real estate industry pro- Based in The Rockefeller Group’s Morristown office, Co- lumbus leads the development and formulation of financial strategies for the company’s New Jersey and Pennsylvania operations, including asset performance, lease projections and project evaluations. Co- lumbus is specifically focused on a number of major indus- trial projects in the region, including Rockefeller Group’s 1.3-million s/f development Cranbury Station Park. “Having Mikki on board has already been enormously beneficial to our New Jersey and Pennsylvania operations — specifically in terms of in- dustrial development strategy — as we continue to rapidly expand our footprint in the re- gion,” said ClarkMachemer , senior vice president and re- gional development officer for The Rockefeller Group’s New Jersey/Pennsylvania office. Prior to joining The Rocke- feller Group, Columbus worked for the Greater Jamaica Devel- opment Corporation (Queens, New York) as the company’s director of real estate and eco- nomic development. n Mikki Columbus f e s s i o n a l Mikki Co- lumbus has j o i ned t he company as senior man- ager of de- v e l o pme n t and financial analysis.
Constructed by Russo Devel- opment, 410 Commerce Blvd. boasts high-quality features and amenities that facilitate corporate appeal, including brick exterior elevation and ample parking space. The building is located within the Russo Business Campus, one of the premier “high-tech” industrial parks in northern New Jersey. The park consists of approximately 2 million s/f of class A space which is cur- rently near-full occupancy. Tenants in the park include JP Morgan Chase, Coach, Donna Karan NY, Pantone, and Sun- Gard Availability Services. n
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