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Heritage refinances $20.5M mortgage.

Heritage Management Company has refinanced a $20.5 million mortgage on 300 Harmon Meadow Boulevard in Secaucus, N.J., announced Jeffrey Greenberg, principal. Jon Mikula of Holliday Fenoglio Fowler, LP (HFF) arranged the 10-year, fixed-rate loan through LaSalle National Bank.

"Our goal was to take advantage of the current rate environment," Greenberg said. "LaSalle Bank was superb. They structured the loan to allow us maximum flexibility for future value created at the property."

Heritage Management acquired the 123,000 s/f 300 Harmon Meadow Boulevard in mid-2005. Since then. the company has enhanced the Class A property's image by painting the exterior. Heritage currently is implementing general upgrades throughout common areas.

Long-term tenants at 300 Harmon Meadow Boulevard include Bank of America, C.H. Robinson, Chasan Leyner Bariso & Lamparello PC and JP Morgan. Just 3,000 square feet remains available.

The building sits on nearly six acres within the Harmon Meadow Corporate Park, which boasts on-site hotels, restaurants, banking entertainment and health clubs. The property is visible from the New Jersey Turnpike, immediately accessible to Routes 3 and 495. and just minutes from Manhattan.
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Title Annotation:FINANCE
Publication:Real Estate Weekly
Date:Jan 3, 2007
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