CBRE Secures Permanent Financing For Freehold Corporate Center
SADDLE BROOK, N.J. (JULY 23, 2012) –James Gunning and Donna Falzarano of CBRE New Jersey’s Debt & Equity Finance group recently secured $7.5 million in permanent financing for borrower Onyx Equities. The transaction was a refinance of existing debt secured by Freehold Corporate Center, a 60,286-sq.-ft. professional office building located at 303 West Main Street in Freehold, N.J.
“This is the second time CBRE Debt & Equity Finance has secured financing for Freehold Corporate Center; we provided the borrower with a very attractive, fixed interest rate,” said Mr. Gunning. “Several of the tenants are medical related and benefit from the site’s proximity to the CentraState Medical Center, a teaching hospital.”
Originally constructed in 1976 and renovated in 2008, the four-story, steel-frame building is currently 98-percent leased to a variety of professional tenants including Zenith Marketing and Liberty Mutual. The site has easily divisible, 15,000-sq.-ft. floor plates and a 4.5 per 1,000 square foot parking ratio.
Conveniently located in the heart of Monmouth County on West Main Street, Freehold Corporate Center is west of Routes 33 and 9, the New Jersey Turnpike and the Garden State Parkway. A variety of retail and dining options are provided by the nearby Freehold Raceway Mall and other centers.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site atwww.cbre.com.