994-Shrewsbury-Avenue

HFF Arranges $10.4M Loan for New Jersey Retail Property

by Amy Works

TINTON FALLS, N.J. — HFF has arranged a $10.4 million loan for a freestanding A&P supermarket and Sonic Drive-In ground lease in Tinton Falls. HFF worked on behalf of The Hampshire Companies to secure the 10-year, fixed-rate loan through Spencer Savings Bank. Loan proceeds were used to acquire the fee interest and refinance existing debt on the leasehold interest. The 56,304-square-foot grocery store and fast-food restaurant are located at 994 Shrewsbury Ave. Jon Mikula, Michael Klein and Michael Cerulo of HFF represented the borrower in the deal.

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