HFF Secures $65.5M Loan for 351,684 SF Office Park in New Jersey

FLORHAM PARK, N.J. — HFF has secured $65.5 million in financing for Park Place, an office park located in Florham Park. The firm worked on behalf of the borrower, Normandy Real Estate Partners, to secure the loan with First Niagara Bank and Principal Real Estate Investors. The borrower plans to use loan proceeds to retire existing debt, upgrade amenities and fund leasing costs for new tenants. Situated on 30 acres at 200-230 Park Ave., the four-building park offers 351,684 square feet of Class A office space. On-site amenities include a cafeteria, fitness center, 70-seat conference center and parking for 1,045 vehicles. The park is occupied by a variety of tenants, including Fairleigh Dickinson University, M&T Bank, Sun Bank and several law firms. Jon Mikula and Mike Lachs of HFF represented the borrower in the transaction.