NEW JERSEY—James Gunning and Donna Falzarano of CBRE New Jersey’s Debt & Equity Finance group recently secured $7.5 million in permanent financing for borrower Onyx Equities. The transaction was a refinance of existing debt secured by Freehold Corporate Center, a 60,286-sq.-ft. professional office building located at 303 West Main Street in Freehold.
Originally constructed in 1976 and renovated in 2008, the four-story, steel-frame building is currently 98 percent leased. The site has divisible, 15,000-sq.-ft. floor plates and a 4.5 per 1,000-sq. ft. parking ratio.
Located in Monmouth County on West Main Street, Freehold Corporate Center is west of Routes 33 and 9, the New Jersey Turnpike and the Garden State Parkway. A variety of retail and dining options are provided by the nearby Freehold Raceway Mall and other centers.