REBusinessOnline

HFF SECURES $10.5M REFINANCING FOR TWO-BUILDING OFFICE PROPERTY

BASKING RIDGE, N.J. — HFF, on behalf of Lincoln Property Company, has secured $10.5 million in refinancing for a two-building office property in Basking Ridge. Situated on 14.4 acres at 180-188 Mt. Airy Road, the office complex features two two-story multi-tenant buildings totaling 104,202 square feet of rentable space. 180 Mt. Airy Road was renovated in 2004, and 188 Mt. Airy Road was renovated in 2007. The properties are currently 95 percent leased to a variety of tenants, including Montgomery Academy, The Learning Experience, Integrated Device Technology and Mt. Airy Associates. The five-year, floating-rate loan was placed with OceanFirst Bank. Michael Klein and Andrew Roland of HFF represented the borrower in the transaction.

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