$2.4 Million Arranged for Acquisition of Two Mixed-Use Properties in Plainfield, NJ

Brad Domenico secured $2,409,000 in financing for a valued client to acquire two mixed-use buildings located at 155-161 & 163-171 E. Front Street in Plainfield, NJ.

The property at 155-161 East Front Street consists of a multi-tenant retail building that contains 15,081 square feet of gross building area situated on a 8,686 square foot site. The improvements were completed in 1900 and were originally 100 percent occupied by a department store. The tenant vacated in the 1960s and the property was eventually converted to multi-tenant retail. The property is located within the central business district of the City of Plainfield and proximate to the NJ Transit rail station.

The property at 163-171 East Front Street consists of a multi-tenant retail building that contains 51,592 square feet of gross building area situated on a 27,823 square foot site. The improvements were completed in 1920 and were originally 100 percent occupied by a department store. The tenant vacated in the 1960s and the property was eventually converted to multi-tenant retail. The property is also located within the central business district of the City of Plainfield and proximate to the NJ Transit rail station.

Brad worked with TriState Capital to negotiate 2 Years Interest-Only with no prepayment penalty.

Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress