$26m loan for Parsipanny prop.Jeffrey Dunne, Kevin Welsh and Jeffrey Oram of the CB Richard Ellis' New York Tri-State Investment Team recently represented Hartz Mountain Industries Hartz Mountain Industries (HMI) is a private family owned and operated company known for its vast real estate holdings in the New York/New Jersey Metropolitan Area. Its former parent Hartz Mountain Corporation (of pet products fame), was founded by German-American businessman Max in the sale of 9 Entin Road for $26.8 million or $136.11 psf. The team was also responsible for procuring the buyer, a venture between a fund advised by the Real Estate group of UBS Global Asset Management UBS Global Asset Management was the multinational investment unit of UBS AG, a very large multinational financial firm formed in 1998 from the merger of Union Bank of Switzerland and the Swiss Bank Corporation. and Lincoln Property Company. 9 Entin Road is a high quality, three-story, 196,894 s/f office building located in Parsippany, New Jersey. The property is strategically located immediately off Exit 40B of Interstate 287 within Morris County's renowned business campus, and is easily accessed from Routes 10 and 202 via Sylvan sylvan emanating from or pertaining to woods. See also sylvatic. Way. At the time of sale, the building was 47% leased to two major tenants, AIU AIU American Intercontinental University AIU Allegheny Intermediate Unit (Homestead, PA) AIU Atlantic International University AIU Association of Indian Universities AIU Association Internationale des Universités Insurance Company (69,555 s/f, with an investment grade S&P credit rating of AA+, and the U.S. Headquarters of Emerson Radio (22,476 s/f). |
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