HFF worked exclusively on behalf of The Klein Group to secure the 10-year fixed-rate loan through Nationwide Life Insurance Co. The loan will be serviced by HFF and is replacing an existing first mortgage loan on the property, which was also arranged by HFF.
Originally built in 1977, Florham Park Plaza was recently renovated and expanded to include new tenants Trader Joe's and Walgreen's. Other tenants at the 96.6 percent leased center include McDonald's, Dunkin Donuts, Sprint, Red Mango, Citibank, Dress Barn and Qdoba. The property is situated on 6.55 acres at 176 Columbia Turnpike at the intersection of Columbia Turnpike and James Street in Florham Park's downtown retail district.
The HFF team representing The Klein Group was led by senior managing director Jon Mikula and managing director Jim Cadranell.
The Klein Group is a New Jersey-based real estate investment firm headed by Jacob Klein. The firm manages 16 properties, including Warren Village Shopping Center, Eagle Rock Commons and the Fidelity & Stew Leonard Center in Paramus, New Jersey
Holliday Fenoglio Fowler, LP (HFF) and HFF Securities LP (HFFS) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 19 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing.
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