$4.32 Million Secured for West Orange, NJ Office Building
Brad Domenico arranged $4,320,000 for the acquisition of a three-story, high-end, commercial office building located at 155 Prospect Avenue in West Orange, NJ.
The property measures approximately 38,000 SF and has undergone recent renovations including a brand new elevator, HVAC system, roof and updated common areas. The property features nearly two hundred parking spaces and is currently occupied by twelve tenants. The building is situated on a beautiful piece of property directly across the street from the Eagle Rock Reservation and is just down the street from a Whole Food Market, Retro Fitness and Dollar Tree. The Hackensack Meridian Medical Center is less than 3 miles away and Newark Liberty International Airport is approximately 12 miles from the subject property. Additional nearby conveniences include direct access to Interstates 280/287, Route 10, The Garden State Parkway and I-95, as well as the Walnut Street and Bay Street Train Stations (Montclair-Boonton Line) providing easy routes into Manhattan.
West Orange is home to many local and national retailers, over 220 restaurants, numerous parks, country clubs and offers many family-oriented activities for residents. The town is a flourishing suburban community with a population of around 50,000.
Brad worked with Affinity Federal Credit Union to provide the following key terms:
- 3.75% Fixed for 7 Years
- 30 Year Amortization
- 75% LTV
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