Mid Atlantic Real Estate Journal — New Jersey — February 10 - 23, 2012 — 23A
www.marejournal.com
C ENTRAL N EW J ERSEY
I L L T O W N , N J — Douglas J. Kelly Associates arranged Ryders Crossing Shopping Center, Milltown Douglas J. Kelly Associates secures $20+m financing M
For 32,696 s/f Watchung Commons G.S. Wilcox & Company arranges $6m in financing
long term financing for Ry- ders Crossing Shopping Cen- ter, a four building, 116,114 s/f retail center anchored by Acme, Staples and Petco and shadow anchored by Target and Home Depot. The center has remained virtually 100% occupied since its construction in 2001 with other national and local tenants such as Cold- stone Creamery, Applebee’s, Hallmark and Blinds to Go rounding out the mix. Kelly Associates has financed the acquisition, construction and permanent phases of the cen- ter, most recently taking it from a CMBS loan to a long term fixed rate portfolio loan. ■ Herring Properties receives 2012 Land Dev. & Planning Award SKILLMAN, JN — Her- ring Properties announced that 23 Orchard Road, a mixed-use development anchored by an existing 240,000 s/f, office building has received the prestigious 2012 Land Development & Planning Award in the Mixed-Use category from the Somerset County Planning Board at the 29th annual awards presentation. Originally a former head- quarters of a downsized public company, Herring Properties subdivided the site into two parcels, one for the existing office build- ing which they completely renovated and leased up to a fortune 100 company; the other parcel received ap- proval to build a 160 unit townhouse community with a component of affordable housing. Additionally, a solar array was built in the rear of the property to provide over 40 percent of the power to the office building through a renewable energy source. Van Cleef Engineering As- sociates of Hillsborough was the engineering firm on the project. ■ 23 Orchard Road
600 Hickory Drive
of G.S. Wilcox &Company, will utilize the 10 year term loan to recoup construction costs of upgrading the property and adding Party City as its larg- est tenant. ■
WATCHUNG, NJ — G.S. Wilcox &Company arranged $6 million in financing for Watc- hung Commons, a retail build- ing consisting of 32,696 s/f. The borrower, repeat clients
Ryders Crossing Shopping Center
2011 Leasing Totals: 99.8% Occupied 3,647,365 SF Leased Heller Industrial Parks
Leasing for less in Central Jersey. Huge Foreign Trade Zone Energy Efficient Warehouse Lighting 60% Lighting Bill Reduction 20% Solar Energy Electric Rebates Subsidized Daycare
(732) 287-4880
205 Mill Road, Edison NJ 08837
www.hellerpark.com
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