East Hanover Industrial Office Refinanced for $3.35M

Columbia Bank has provided a $3.35M refinancing loan for the 23,500 SF industrial office property at 17 West Street in East Hanover, NJ, owned by landlord Roy Pascal. The deal was brokered by Kathy Anderson and Caillin Boles of Progress Capital.

The property, located in a prime location in East Hanover, features a mix of office and industrial space, making it an attractive option for a variety of tenants. The property is currently fully leased, with a mix of long-term and short-term tenants.

The refinancing deal will allow Pascal to take advantage of the current low interest rate environment and free up capital for other investments. Columbia Bank, a local lender with a strong presence in the area, was able to provide competitive terms and a quick closing timeline.

Kathy Anderson and Caillin Boles of Progress Capital were instrumental in bringing the deal together. With their extensive knowledge of the local market and strong relationships with lenders, they were able to secure the best possible terms for their client. Anderson and Boles have a proven track record of success in the commercial real estate industry, having closed over $1 billion in transactions over the course of their careers.

Overall, the refinancing of 17 West Street is a win-win for all parties involved. Pascal is able to take advantage of favorable market conditions, Columbia Bank is able to add a quality asset to its portfolio, and Anderson and Boles are able to add another successful deal to their impressive track record.