Jones Lang LaSalle Incorporated : Refinancing secured for office building in Monmouth County, NJ

MORRISTOWN, N.J., July 8, 2021 - JLL Capital Markets announced today it arranged a $9 million refinancing for Meridian Center II, a Class A office building in Eatontown, New Jersey.

JLL worked on behalf of the borrower, The Donato Group, to secure the loan through TIAA Bank.

The 80,188-square-foot building, known as Meridian Center II, sits on 4.6 acres and is currently 92% occupied by a mix of technology, defense and healthcare-related tenants, including Hackensack Meridian Health, Wayside Technology Group and Altair Health. Originally constructed in 1988, The Donato Group has made significant improvements to the property over the last three years, including refreshes to the lobby, hallways and restroom areas.

Located at 4 Industrial Way West, the Meridian Center II is positioned within the Eatontown Business Park, which totals 2.3 million square feet of prime office, medical and industrial space, and is easily accessible via NJ State Route 35 and Hope Rd. The property is also in close proximity to State Route 36, Route 18 and the Garden State Parkway.

Situated in Monmouth County, the fifth most populous county in New Jersey, the area is home to over 636,000 residents and serves as a bedroom community for many small and mid-size businesses that operate out of the Eatontown Business Park. The area is also just 40 miles from New York City and 60 miles from Philadelphia.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Michael Klein, Director Max Custer and Analyst Gerard Quinn.

'We are grateful for the opportunity to represent The Donato Group once again,' said Klein. 'TIAA provided the borrower with very attractive deal terms and a highly competitive rate.'

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge deliver best-in-class solutions for clients - whether investment sales advisory, debt placement, equity placement, or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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