Developer now counting on Sonnenblick Goldman.Sonnenblick Goldman, acting as a financial advisor to Workstage CT, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , has successfully completed a $50.75 million construction loan for the development of a 300,000 s/f office building in Wallingford, Conn. The construction financing was provided by Key Bank. Sonnenblick Goldman has been further retained by Workstage, LLC, to arrange permanent twelve-month forward financing. Workstage CT, LLC, is a "green" development company owned by an affiliate of Gale International, Steelcase, Inc (NYSE NYSE See: New York Stock Exchange : SCS SCS, n strain/counterstrain, an approach of applying pressure to certain tender points in the muscles or joints to decrease or remove the pain sensed at the point of palpation. ) and Workstage's existing management. Workstage CT, LLC, is a joint venture between the The Hampshire Companies of Morristown, NJ, and Workstage, LLC. The building will be wholly occupied by Mortgage Lenders Network (MLN MLN Million MLN Modern Language Notes (literary journal) MLN Management & Leadership Network (Northern Ireland) MLN Missouri League for Nursing MLN Main Listed Number ), one of the nation's leading sub-prime residential mortgage lenders. MLN has signed a lease to occupy the entire building for 20 years. "We are very pleased to complete the first stage of this project, which allows Workstage CT to develop what will be a very attractive property with a very strong and expanding tenant," said Dave Karson, director at Sonnenblick Goldman. "We have a long-term NNN NNN Triple Net (method of computing real estate costs among commercial rental properties; lease) NNN Nippon News Network (Japan) NNN Newspaper National Network LP NNN Novy-MacNeal-Nicolle lease from a strong tenant in an extremely adaptable a·dapt·a·ble adj. Capable of adapting or of being adapted. a·dapt  a·bil and efficient building. This is a great opportunity for the owner to lock in debt at today's low Today's LowThe intra-day low trading price. Notes: In other words, this is the lowest price that a stock traded at during the course of the day. More often than not this is lower than the closing price. See also: Today's High interest rates and own a best-in-class building on a beautiful corporate campus." MLN is consolidating its east coast operations into the new facility, and the building will house at least 1,400 employees and will serve as its national headquarters. The LEED-Certified building will be designed with eco-friendly materials, allowing for a healthier and more enjoyable working environment. "The technology that Workstage employs in building their office product is remarkably well thought out and user friendly," continued Karson. "The firm has spent an enormous amount of time and capital understanding what constitutes a positive and comfortable workspace, and it is immediately evident when walking through any one of their properties." Construction of the building has already begun and delivery is expected in September, 2007. |
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