Closed Loans

$6.5 Million Secured for Acquisition of Medical Office Building in Dover, NJ

Dover, NJ – Brad Domenico secured $6.5 Million in financing for a valued client to acquire a professional medical office building located at 600 Mount Pleasant Avenue, Dover, NJ.

The property is a fully-occupied, two-story, medical office building comprised of 28,000 SF, plus a large on-site parking lot with 146 spaces.  The building contains 11 units which are 100% occupied by 7 tenants, as 4 of the tenants have expanded their space to occupy 2 units each. The tenant makeup of the property contains a diverse mix of medical professionals.

Ideally located in the heart of Dover, NJ, the property is situated directly off route 80 right across the street from the Rockaway Townsquare Mall, which is a super-regional shopping mall and major destination in the area. The property is located in front of Dover High School and is only 3 miles from Saint Clare’s Hospital.

Dover is a town in Morris County and a suburb of New York City with a population of 18,091. The community offers residents a dense suburban feel and is centered around a developed downtown area around Blackwell Street, featuring many ethnic eateries and other culinary establishments including sushi, pizza, coffee shops, and popular Irish and Italian food.

Brad worked with TriState Capital to negotiate the most favorable terms for his client.

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

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