Denholtz Associates Completes $5.82 Million Refinancing of Bernardsville Office Building3.31.2016
Bernardsville, N.J. (March 31, 2016) – Denholtz Associates has completed a $5.82 million refinancing with OceanFirst Bank on its 54,600-square-foot, Class-A office building located at 150 Morristown Road in Bernardsville, New Jersey. Bradley J. Fouss of OceanFirst Bank negotiated the 10-year refinance, which will be at a fixed rate for the first five years.
150 Morristown Road is a two-story multi-tenant Class-A office building that can accommodate tenants as small as 800 square feet and up to 15,000 square feet. The building also boasts a tasteful two-story lobby, covered executive parking and on-site property management. The property is located in the heart of Somerset County, just minutes from downtown Bernardsville. The location offers immediate access to Route 202 and easy access to Routes 24 and 206 and I-78 and I-80.
“Over the past 60 years we have established a strong relationship with some of the nation’s most prominent financial institutions in order to in order to secure favorable rates for our purposes and investors,” said Stephen Cassidy, President of Denholtz Associates. “Our reputation in the industry and our substantial in-house capabilities have been a real asset when negotiating financing on both our new and current properties. The Fed has indicated they will be increasing rates in the near future and we saw this as an opportune time to renegotiate on this high performing asset.”