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HOWELL, N.J. — Eastern Union Funding has arranged $4.2 million in financing for an office park located at 481 Oak Glen Road in Howell. The first phase of the two-phase property is fully occupied after being constructed in 10 months. Zevi Schwartz of Eastern Union Funding arranged the financing, which fully stabilized the first phase, through a regional balance sheet lender. The loan features a competitive rate of 3.87 percent on a five-year term with 50 percent non-recourse. Due to the lease up of the first phase, the lender has committed an additional $3.8 million for the construction of phase two. Once completed the office park will offer two buildings totaling 100,000 square feet. The property is owned by Howell Plaza LLC.