CRONHEIM MORTGAGE SECURES $5M LOAN FOR NEW JERSEY INDUSTRIAL BUILDING

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NEW PROVIDENCE, N.J. — Cronheim Mortgage has arranged $5 million in permanent financing for an industrial flex building in New Providence. The one-story property features 88,500 square feet of industrial flex space, with approximately 60,000 square feet of office space and 30,000 square feet of warehouse space. Current tenants include Atlantic Health Systems, Creative Wallcoverings, the New Jersey Youth Symphony and Sensory Spectrum. Dev Morris and Andrew Stewart of Cronheim Mortgage secured the 10-year loan, which features a 15-year amortization schedule, for the borrower, RC-Central Ave. Associates LLC. The loan was placed with American United Life Insurance Co.

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