HFF Arranges $7M in Acquisition Financing for Warehouse Building in Linden, New Jersey

LINDEN, N.J. — HFF has arranged $7 million in acquisition financing for a warehouse and distribution building located at 1501-1525 W. Blancke St. in Linden. The borrower, Penwood Real Estate Investment Management, will use proceeds of the loan to purchase the building and fund immediate and future capital expenditures, tenant improvements and leasing commissions. Vantage Specialty Chemicals and HelloFresh occupy the 115,913-square-foot facility. Michael Klein of HFF arranged the five-year, fixed-rate loan with First Bank New Jersey for the borrower.